Wills & All you Need to Know About Them

Wills are documents which outline how an individual’s assets will be distributed upon their death; these documents may also include instructions for funeral arrangements and other final requests from the deceased.

A will is a written document that outlines instructions for distributing an individual’s property upon their death. It typically names one or more people who will receive these items from the deceased’s estate. In addition, a will typically states who will be in charge of carrying out its provisions (the executor). When creating a will, it is important to consult with an experienced wills attorney to ensure all local laws are followed when writing and executing it properly.

What Is A Will?

A will is a legal document that outlines how a person’s assets and belongings are to be divided after death. It’s important to note that you don’t have to have a lot of money or property for it to be beneficial to create a will. Everyone should have one, regardless of their economic status, since it ensures that your wishes are carried out in the event of your passing.

Creating a will can seem intimidating at first, but it doesn’t need to be complicated. Writing a will typically involves deciding who you would like to receive your estate and how much they will receive. You may also designate someone to manage the distribution of the estate, known as an executor. This person is usually responsible for making sure the wishes outlined in your will are carried out.

It’s important to keep in mind that if you do not have a valid will when you die, state laws become responsible for distributing your property according to their rules and regulations. Therefore, having an up-to-date will helps ensure that your assets go where you want them so that those closest to you are taken care of after you die.

Drafting a legally binding and valid will requires careful consideration and consultation with an experienced attorney specializing in estate planning; this ensures that all aspects of the process are executed properly and without delay or dispute.

What Is The Difference Between A Trust And A Will?

When it comes to estate planning, trusts and wills are two of the most important documents you can have. But what is the difference between these two legal instruments? Understanding the difference between a trust and a will is essential for making sure your wishes are followed after you pass away.

A trust is an agreement between you and someone else, usually called a trustee. You give the trustee control over your assets during your life or after you pass away. The trustee will then use those assets to provide for loved ones according to your wishes, either while you’re alive or after you’re gone. A trust can also help keep your finances and estate out of probate court, which can be costly and time consuming.

In contrast, a will outlines how you want your assets to be distributed after you pass away. Unlike a trust, there’s no need for anyone else to handle or manage your assets according to your wishes — this happens once probate court has finalized the process of distributing them according to the terms of the will. However, any assets that aren’t specified in the will may go into probate court and could cost more in taxes than if they were placed in a trust.

It’s important to consider both types of documents when building an estate plan so that all of your assets are handled according to your wishes when you die. Consulting with an experienced attorney who specializes in estate planning can help you determine which type of document is best suited for your needs — whether it be a trust or a will — so that nothing gets left behind when you pass away.

Now that you know a little more about what a will is, do you think it’s time for you to draft one? If so, the best way to get started is by contact a seasoned estate planning attorney who can answer all of your questions and help guide you through the process. Trust us, having a will in place will give you peace of mind knowing that your loved ones are taken care of financially should something happen to you. So don’t wait – Contact a wills attorney today!

Posted in Law