Last Will and Testament

A Last Will and Testament is just one part of a comprehensive estate plan. If a person dies without having a Will, they are said to have died "intestate" and state laws will determine how and to whom the person's assets will be distributed.

A Will does not avoid probate. It merely provides for the orderly disposition of assets after death by providing the details of who you wish to leave your assets to and who will handle those distributions. Wills have no legal authority until you die, at which time the original Will would be delivered to the Probate Court for validation. Unlike a Living Trust, A Will does not help manage a person's affairs when they are incapacitated, whether by illness or injury.

If you have minor children, a Will is very important. Whether you have a simple Will, or a Will that works together with a Living Trust, you can name the person(s) you wish to care for your children if you die or become incapacitated prior to their turning 18. If you do not name a Guardian in this manner, you could be setting up a costly and extensive family court battle to determine who will raise your children.