In short, a Last Will and Testament (“will” for short) dictates what should be done with a person’s estate at death, and to whom custody of said person’s children shall pass. Obviously, a will is not something to be taken lightly.
If there is no will in place at the time of your passing, your estate may be distributed in accordance with state law, and a judge may decide who will take care of your children.
Depending upon the size of your estate and the complexity of your personal situation, a court may review your assets before disbursement. Laws vary from state to state and the process can take more than a year.
Using a properly drafted will or revocable trust, you may give what you have to whom you want, the way you want and when you want while minimizing taxes, professional fees and court costs.
Davis Schilken offers a full range of estate planning services, including basic wills, advanced wills and the full range of estate planning services. Don’t trust one-size-fits-all, generic will templates or leave important matters to fate…contact us today for a no-obligation consultation.