Last Will and Testament
If you own assets in your name alone, they can quickly pass from you to the people you love—if you leave a Will. Without a Will, your assets pass according to the State's rules, also known as intestacy. The State may not pass your assets to the people you care about. In order to be sure your stuff goes where you want it to, you should leave a will.
You should also know that...
- Assets will pass through your Will to your loved ones if the Will is written properly.
- You can reduce your estate tax liability by using a trust in a Will.
- You can protect the ones you love by creating a trust in your Will which can protect your family from creditors.
- You can protect yourself.
- It is important that you give your family the tools to help you if you cannot help yourself.
- Your Will (if you don’t have a trust) must go through probate, using the courts to divide your property.
Want protect your children from losing their inheritance through divorce? Want to leave money to your financially irresponsible child but prevent her from burning through it quickly? Want to leave money to a disabled child or grandchild without disqualifying him from public benefits? You can do all those things. Find a qualified estate planning attorney to help you.