Estate Planning

The following is an in depth review of a simple will. We have provided an analysis of the important provisions usually contained in a will, so that you can understand the impetus for each provision. It is expected that you will consult with an attorney before deciding to prepare your own will.

Remember, the end result of having a will should be considered by anyone who is drafting a will. Your will quite simply states in effect, "Please transfer my assets to the following people." The key to understanding wills and probate is understanding that you are not there to sign the title of each of your assets over to another person because you are no longer living.

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.

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.

Generally, you can provide specific instructions on how you wish your property to be divided. One of the main rules however, is that you must own the asset in order to exert complete control over its distribution.


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