A Last Will and Testament is a legal document that allows you, as the testator, to identify your beneficiaries, designate how your assets with be distributed, and to nominate an independent executor. A Will does not take effect until the time of your death.
Having a valid Will assures that your belongings will be distributed to the loved one’s or entities whom you choose after you pass. If you pass away without creating a valid Will or making non-probate beneficiary designations, then your estate will pass intestate. This means that your possessions will be distributed per the laws of descent and distribution in the State you resided in.
The cost of having a Will prepared for you generally is substantially less than the costs of your loved ones having to probate your estate without a Will and the problems that could arise because of this. We highly recommend that people seek the advice of an attorney about their estate plan and consider having a Will prepared.
Leigh Cates Law Firm, PLLC, can assist you in the preparation of your first Will, going over your estate planning needs, or reviewing a Will that you had prepared in the past to see if any changes need to be made or updated. It is important to review your estate plan to ensure that your assets will pass to the correct loved ones, as circumstances may change over the years.