Wills

Usually includes guardianship.

Last Will and Testament – Pour-Over Will – Testamentary Trust Will – Simple Will – Deathbed Will – Holographic Will – Living Will… and so on. What is the difference and why are there so many?

A will is essentially a written document that outlines how you want your estate and any assets to be divided up when you die. It will also name the Executor, the person who will be responsible for carrying out your final wishes. This document will serve as the blueprint for distributing your net worth, such as assets and debts, in accordance with your wishes after you have passed away, as well as naming a guardian for minor children. A will must be signed by the testator (the person making the will) in the presence of two witnesses.

A Pour-Over Will is a special type of Last Will and Testament that works together with a living trust. This document transfers—or pours—any missed property into your living trust when you pass away. Basically, having this type of will helps you cover all your bases and prevents any applicable property from being left out of your living trust.

Having a will and testament is important not only for you, but for your loved ones as well. Without these documents in place, it will be much more difficult to ensure that your final wishes are honored, and your estate is divided according to the way you want it. It will also help prevent any disputes among family members or other people who may be entitled to some of your assets.