Will

A will is a legal document that directs your personal representative to distribute your assets when you pass away. A will can distribute personal property, bank accounts, real estate, and other assets. Most wills include a guardianship nomination which identifies who you believe will best care for your minor children.

Many young families choose to use a will as their primary estate planning tool. It is cost effective, can be drafted relatively quickly, and requires very little follow-up funding work. In spite of these positives, there are some drawbacks that convince many clients to strongly consider a trust. Here are just some of the drawbacks to consider:

1. Wills must be submitted to Probate, which can be costly and time consuming;

2. Minors and dependents will not have immediate access to estate assets;

3. Wills usually simply distributes assets--it is difficult to maintain control of assets over time; and

4. Larger estates may be subject to unnecessary estate tax liability.

A will alone is a good fit for many clients and is an important piece of a more complex estate plan. If you would like more information or would like to schedule a consultation, enter your information below. 

Legal disclaimer: the information provided on this site is for informational purposes only. An estate plan must be tailored to a client's individual needs. This page is not meant to provide legal advice and no attorney-client privilege exists until an engagement letter is signed. Always consult qualified legal counsel prior to executing any legal documents.