A will may be the single most important document of the estate planning process. A will is called a testamentary document. It functions to declare your wishes for your estate. Simply put, it lets you leave assets and other important possessions to the people that deserve them. Passing without a will is called “intestate.” When you pass without a will, your estate, including important possessions will follow an arbitrary mechanism that leaves property to family members depending on what family members exist and their relationship to the decedent. For example, if a wife or husband survives their spouse and no children exist, the spouse inherits everything. When children are present with a surviving spouse, there is a certain split. As the line progresses, certain people are entitled to the decedent’s property.
A will is something everyone should consider. Whether you are wealthy or live a modest life, the things you have worked a lifetime to achieve should have a place with future generations that is chosen by you and not the state. With a will in place, your vision for your estate can be a reality. It is important to make sure they are going to the right people. Discussing your situation with an attorney is a good first step. When a will is drafted and executed by a professional, all variables can be addressed and you can rest assured that your estate is safe, protecting your wishes those who will benefit.
Zimmet Law Group, P.C. is an experienced Wills, Trust & Estates law firm helping clients in a range of estate planning and administration matters. Contact our firm to discuss your legal matter with a legal professional.