WILLS
A will gives directions on how to dispose of your estate after your
death. It only takes effect after your death, and therefore can be
changed by you any time before then. Its important that it give clear
directions, and that it covers all contingencies that may occur by the
time of your death.
A will usually changes the plan for distribution the State provides
for you in the event you have not prepared a will before your death. It
often helps to know what plan the State provides, so you are better able
to change that plan to suit your desires.
A will does not avoid probate. Instead, it
gives the probate court, and your executor, clear directions about how
you want your estate disposed. You can also name, or nominate, someone
to serve as your executor in a will, and the probate court will usually
appoint that person to so serve.
If you want to avoid a probate procedure, you should seriously
consider a living trust.
A will can also include planning to avoid, or minimize, the estate
taxes.
A will must be signed with certain formalities. Being familiar with
those formalities, and following them, will help to avoid any challenges
to your will.
