Wills

Wills are just one tool in the planning toolbox.  It is usually the first thing people think about when you say “estate planning.”  In its simplest terms, a Will is a list of gifts and some very basic instructions to your loved ones.  However, a lot of formality surrounds the creation and execution of a Last Will and Testament.
Unlike a trust, a Last Will and Testament must go through probate to be validated and the assets distributed. The “testator”, creator of the will, does not get to have long term control over the gifts. Typically, if a trust is involved, the will simply “pours” everything not in the trust into the trust.

from Protecting You And Your Family http://ift.tt/2acMQ1t


from DeWitt Law Firm, PLLC