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Last Will & Testaments

Establish Essential Safeguards

Wills, in general, provide a basic level of protection and still require going through the probate process.  A will alone is not sufficient for estate planning, which is why many estate plans tend to be trust based.

Will

A basic will, is also known as a Last Will & Testament, it has three main purposes:  to distribute your assets and property to the person or people you choose; to name an executor or personal representative to wind up your affairs; and, to assign a guardian to care for your minor children. However, a will must still go through the time-consuming, expensive, and public probate court process. If you want someone such as your partner or a minor child to receive money over a period of time, the court may stay involved until the last amount is paid, which could take years.