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.
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