What Are Wills?

A Will allows you to direct how your property will be distributed upon your death. Without a Will state inheritance laws will determine who will receive your property. The state’s laws may not be consistent with your wishes.

In addition, a Will allows parents with minor children to name a guardian for the children and to create a trust and name a trustee to handle the estate on behalf of the minor children.

A Special Needs Trust can also be established by a Will to provide for a disabled child or loved one. Government benefits will not be disrupted by a bequest to a Special Needs Trust.

A Will also can ensure that your estate avoids paying unnecessary taxes.  Provisions in your Will can provide that each individual’s tax credit amount is used to avoid payment of unnecessary estate tax.

A Will is a fundamental estate planning tool that will ensure that your wishes are carried out.

Person with Revocable Living Trusts should also have a “Pour Over Will” in case not all assets were properly transferred to the trust.

If you would like to discuss questions about Wills, please contact us at info@lynnstlouis.com or (509) 468-0551.