What is a Will?

A Will is a legal document that spells out your wishes regarding care of your minor children, as well as distribution of your assets after your death.

Failure to prepare a Will could typically lead to family strife by leaving these important decisions about your estate in the hands of your relatives who might not be able to agree and then be forced into expensive litigation reducing the size of your estate.

Key Takeaways

You can be clear about who gets your assets.
You can decide who gets what and how much.

You can keep your assets out of the hands of people you don't want to have them (like an estranged relative).
You can identify who should care for your children. Without a Will, the courts will decide.
Your heirs will have a faster and easier time getting access to your assets.
You can plan in a way to save your estate money on taxes. You can also give gifts and charitable donations, which can help offset the estate tax.

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