The Will
Do you really need a Will? My answer is that “it’s certainly a good idea.” If you have any family or if you have any preference about how your property is handled following death, it’s a good idea to have a Will to be relied upon. The primary purpose of a Will is to convey your wishes.
Without a Will, you may (inadvertently) force your heirs to deal with a lot of post-death issues through the court system (the probate process). The more issues that are handled by a well-written Will, the fewer issues that remain for the court to decide. And who really wants the court to decide things for them?
A basic Will makes your wishes known. State laws vary, but assuming that we are dealing with Minnesota, your Will can include a list of how you want to deal with your personal property. The Will can assign persons to handle certain tasks related to the estate. It assigns a Personal Representative (formerly called Executor or Executrix), a Trustee (if needed), a Custodian to deal with minor children (if needed), and a Guardian for minor children (if needed).
A Will document must also connect to other estate planning needs(such as tax considerations) and other estate planning documents. One example of other estate planning needs or documents is a trust. We hear much about trusts, but they don’t need to be complicated. All of this might sound overwhelming, but it doesn’t need to be. A basic Will can be completed in a short period of time and at relatively little expense.
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Contact Kim Tennyson and get help today at 612-234-1655 or use the contact form below.
The information contained in this article or website is informational only and does not constitute legal advice. This information does not establish an attorney-client relationship between the lawyer or firm and the user of the website.
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