What is a Will?
A will can fulfill several purposes. It nominates fiduciaries, provides the fiduciary with the authority they need to act and it disposes of probate assets.
The will nominates a Personal Representative who will guide the estate through the probate process.
If there are minor children involved, the will also nominates a Guardian or Guardians.
The will may make specific bequests; dispose of tangible personal property, and also of the ‘residue’ of the estate.
If you die without any estate planning documents, the State will step in and decide how your assets will be distributed to those who survive you, in accordance with the then existing intestacy laws
How often should I have my will updated?
Every 5-10 years or as soon as possible after a major life event (i.e. marriage, divorce, birth of a child, death of a family member, etc.)
Have questions or concerns about your estate planning? Contact us to discuss further:
E.M. Curran & Associates LLC