A Will is a legal document that explains what a person intends to do with their assets upon their passing. It describes, in detail, their decisions such as who is to inherit any property, cars, antiques, family heirlooms and/or personal possessions. Most states require this document to be notarized to qualify as a completed legal document. A Will can also encompass naming guardians and/or custodians for minors who would handle any distribution of assets at the demise of the will maker. If a person dies intestate (without a will), then typically the courts would decide who would be the beneficiaries and how much each beneficiary will receive from the estate of the deceased. This process can take a long time and may conflict with the deceased’s best intentions. The court fees and attorney costs for those who die intestate can also be detrimental to the overall inheritance to the beneficiaries. A Will remains valid unless it is revoked before death. At death, all decisions in the Will become final, and changes cannot be made. In some states, a Will not keep the deceased’s estate out of probate.

Go to top