Most people have become aware that they should have a will – but what is a will, and how does it actually work?
Often called a last will and testament, a will allows for you to state your final wishes upon your passing. The court, through the probate procedure, will make sure that your executor, or one appointed for you, will carry out these final wishes.
In your will you can:
- State your final wishes about how your property, real and personal, should be treated. Make sure your will accurately reflects your current wishes and situation.
- Name an executor – this is the person who will, with the direction and oversight of the court ensure that your final wishes are followed.
- As needed, you may name guardians for children, or the property you would like to leave them, until they reach the age of majority.
- Provide for your pets – they do become part of the family!
- Use a will to provide back up to a living trust, this is generally referred to as a pour over will.
In addition to your will, you may want to provide a list of your passwords to a trusted family member or friend, for anything that you do online, such as; banking, email, social media, or DNA testing results!
Why blog about wills? Allen Investigations realizes the importance of having your final wishes carried out in the manner that you intended, and we are in the process of obtaining licensure to provide document preparation services, including wills and trusts. More about trusts next week …