Last Wills

A Last Will and Testament provides for the distribution of certain assets at the time of death through a court process called probate. Wills do not govern the distribution of assets that pass outside the probate estate (such as certain joint property, life insurance, retirement plans and employee death benefits) unless those assets are payable to the probate estate. Wills can be of various degrees of complexity and are used to achieve a wide range of family and tax objectives.

 

Wills are also used to designate a guardian for any minor or disabled children. In most states, Wills can be changed with an amendment called a “Codicil” that is executed in the same formalities as a Will execution.

 

BACK