Last Will and Testament
What is a Last Will & Testament?
A last will and testament is a legal document that conveys your wishes for the disposition of your property to your loved ones and heirs.
The will has to be executed when the person is both living and has “capacity” to understand they are executing a will and the consequences.
A will can be as simple as you wish or as detailed as you wish. Special bequests directing distribution of specifically identified property to specific individual can assist in fulfilling your specific wishes.
To administer the will, the executor must open a probate case with the local court to proceed with administering the estate. There are other options to consider also, such as a trust or power of attorney.
A Last Will & Testament could best be describe as your basic estate planning tool. However, it does not cover all possible contingencies and can be burdensome to administer.
The construction of an effective estate plan always includes a will. However, a professionally drafted plan will cover what is to happen in the event of incapacity but not death, what would happen if you did not want to transfer any inheritance right away, or how to avoid cumbersome administration of your assets through probate.
What will benefit you and your family is based on your personal situation and preferences. Seeking experienced legal counsel will not only give you peace-of-mind but will also insure that the crushing impact of dealing with your loss is not made worse by the red tape created by federal, state, and local requirements when no estate plan is in place.
Call Merna Law today and speak one of our experience will lawyers today to insure your wishes are embodied correctly in a will to show your heirs your love and consideration.