Last Will and Testament
Why should I draft a will? When you draft a will, you make it clear as to who you wish to inherit your personal assets and real property upon your death.
For instance, if you pass away and own a home and land, by executing a will, you can direct that said property will go to a particular child, sibling, friend or charitable organization. If you pass away without a will, then the question of who will inherit your property goes by the laws of intestate succession in the state you pass away. States can vary greatly in their laws on this. In some states if you are married and have children, then your spouse and children will share equally in your assets. In some states, if you are married and have children, your spouse will receive all of your assets and your children will receive nothing.
Your will can also make it clear as to who you wish to be the guardian of your children that are minors should you pass away. These are never pleasant things to decide while you are alive, but now is the time to execute a will so it will direct your wishes when you do pass away. You can also direct how your children will be educated to your guardian, as well as provide instructional care for any special needs children.
You can also direct the specifics of your funeral and other final acts through a will.
In addition to making your final decision as to certain assets with a will, you can also avoid probate in certain circumstances in how you name your personal bank accounts and through the drafting of deeds to enable this property to pass outside of the estate and not have to be probated in court.
If you have not yet made a will, then contact an attorney to discuss how a will or estate plan can benefit you and your family.
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