A will is a document that comes into effect at the time of your death. Generally, a will controls:
- who will care for your children by designating a guardian;
- who will take care of your estate by designating an executor;
- who will receive your estate by specifying beneficiaries in the dispositive scheme;
- and when necessary designating who will care for assets placed in trust for beneficiaries by designating a trustee
So, why do you need a will? Without a will, the state will direct how your assets are distributed and who will care for your children. Without a will you lose control. Also, a will is a cost saving device as it will reduce the cost associated with your death. Typically expenses are lower due to lower legal fees and less paperwork. If you do not yet have a will, we encourage you to schedule a free consultation.
Just as the importance of a will cannot be overstated, neither can the importance of reviewing your will on a regular basis. Life changes all the time. You may have recently married, add an addition to your family, or suffered the death of someone close to you. When circumstances and situations change be sure to consult your will as it may no longer meet your desires. But there is no need to stress, because we will review your will for free! So, if you have a will and it has not been reviewed in recently, schedule an appointment today.