Will is the most basic form of estate planning that’s needed. Even very complex estate plans, require a Will to be present in most cases since it serves as ideal way to complete certain tasks. Some activities that Will can be used for include:
Name Guardians – If you have minor children, the Will is the way that you can specify who you would like to become their guardians.
Name an Executor – You can name the executor of your estate in your Will so that the proper person is responsible for collecting, managing and distributing your assets. Often, the executor is also responsible for making tax-advantageous elections for your estate and beneficiaries.
Testamentary Trusts – You can use the Will to create trusts. For example, the Will could state that all assets not covered by other estate planning will go into a trust for your descendants.
- Probate Attorney
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