WILLS

A Will, properly drafted, allows you to control the  transfer of your assets to desired individuals or organizations upon  your death. You must be over the age of eighteen (18) and must be of sound mind to create a Will. 

Important features of a Will include being able to appoint a personal representative for your estate, designate beneficiaries, and attach conditions to a bequest. If you have minor children, a Will is an important document for naming guardians for those children.  You may also nominate a guardian for you in the event of your incapacity.  A Will may also be used to  create a Testamentary Trust for minors or others in the Will.  You may amend or revoke a Will at anytime while you are competent  to do so.

A common misconception about Wills is that a Will  does not require probate. However, probate is a court process  precisely for proving the Will, appointing the personal  representative, and giving the personal representative the authority  to act on behalf of the estate. In other words, a Will must be probated if your assets meet the statutory limits.

If you choose to use a Revocable Living Trust for  your primary estate planning vehicle, you will avoid the need for a lengthy Will and subsequent probate.  However, if you do have a Revocable Living Trust, you will still need a Will.  A short,  simple "Pourover Will" is used to transfer any remaining property to the Revocable Living Trust, which was not transferred to the Trust during your lifetime.

In the event you die without a Will, you die "intestate."  Your assets will pass through probate and be distributed according to the State "succession" statutes. The distribution depends upon factors such as whether you are married, have children, etc.