Will and Estate Planning
The Importance of Having a Will
A Will is probably the most basic of estate planning tools. A Will allows you to demonstrate how you wish your estate to be distributed upon your death. It also allows you to choose who will administer the assets that form your estate, and to specify how much authority will be granted to this individual (the executor). This individual may have to deal with a variety of issues such as family problems, unique assets, and determining who will look after minor children. If you do not have a Will then you will die “intestate.” In this event, the “rules of intestacy” in any given jurisdiction will determine how your estate will be distributed. These decisions may be totally contrary to your wishes and this process will also undoubtedly significantly delay the settling of your estate.