A will, also known as a Last Will and Testament, is a wonderful document. Although it is one of the most basic aspects of an estate plan, it allows you to decide the rules of the ballgame for when you pass away. It serves to designate your wishes for the handling of your estate and distribution of your assets upon your death. Additionally, it can be used to appoint guardians for minor children. Without a will, one is said to die intestate, and an individual’s assets are then distributed according to state laws. Without a will naming guardians for your minor children, other people and a randomly assigned Judge will make your decisions for you. If you were alive, you might not have approved of the outcome.
The Estate Plan
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