Estate Planning and Wills

Preparation for a Living Will

A living will is an extremely useful document that outlines your wishes for medical treatment in the event you become incapacitated or diagnosed with a terminal illness. The main difference between a will and living will is when they each go into effect. A will only goes into effect after death while a living will goes into effect once a person becomes incapacitated before death.

Revoking a Living Will

Once you have created a living will, you can revoke it in a number of ways:

Actions in a Will

First and foremost, the purpose for a will is to specify how you wish your estate to be distributed. For any property which you own, you can specify in your will who that property will be distributed to upon your death.

Distribution in a Trust

Generally, one of the most important parts of the trust provisions are the distribution provisions, that is, who gets what, and when. All types of distributions are possible, but it is important to make a crucial distinction here between a will and a trust.

What Happens if I Don't have a Will?

Having a valid will, but not engaging in proper estate planning, usually ends up costing your estate several years in probate court and several thousands of dollars in expenses and fees. Certainly, this is bad enough.

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