Did you know 67% of Americans do not have a Last Will and Testament? Don’t let this be you!

A will, also known as a last will and testament, is a legal document that outlines a person’s wishes regarding the distribution of their assets, property, and possessions after their death. It serves several important purposes:

1. Asset Distribution: A will specifies how a person’s property, assets, and possessions should be distributed among their chosen beneficiaries, such as family members, friends, charities, or organizations.

2. Guardianship for Minors or Adult Incapacitated Children: If the person has minor children or an adult child who is unable to make their own personal decisions, a will can designate a guardian to care for them in the event of their parents’ death.

3. Personal Representative: A will names a Personal Representative, commonly known as an Executor,, who is responsible for carrying out the instructions outlined in the will.

4. Pet Care: In some cases, a will can address the care and provisions for pets left behind by the deceased person.

5. Debt Settlement: A will may address how the deceased person’s debts and liabilities should be settled using their estate’s assets.

6. Avoids Intestacy Laws: Without a valid will, the deceased person’s estate will be distributed according to state’s intestate laws among the surviving relatives and the decedent’s personal wishes are not taken into account. In short, the state legislature has in effect made a will for everyone who did not for themselves and the outcome is sometimes surprising and not welcome for families.

Creating a will allows individuals to ensure that their wishes are carried out after their death and provides a clear plan for the distribution of their assets, thereby potentially minimizing disputes and conflicts among family. To be valid, the Will must meet specific legal criteria and individuals should always work with experienced estate planning attorney to achieve best outcomes.

-Stephanie A. Bivens, Esq. CELA