What is a will?

A will is a traditional and legally binding document that an individual prepares during his or her lifetime. It provides instructions regarding how the individual wants their assets to be distributed upon his or her death.

Normally, a will also names the person who is to be executor of the estate. It is a ‘testamentary’ document, which means it only goes into effect upon a person’s death. With a will, one does not have to be as vigilant about how assets are held during his or her lifetime (with some minor exceptions) as with a living trust.

  • A will is subject to probate administration.
  • If a deceased person’s property is held in joint tenancy, if he or she has a designated beneficiary, or if the estate includes a “payable on death” account, then these assets may pass directly to individuals without need of a probate.

A well-drafted will ensures that your assets are properly distributed and that your final wishes are met according to the directives you have put in place.

What is a pour over will?

Typically, a ‘pour over’ will pours over all of the assets that are outside the trust into the trust and distributes these assets according to your trust provisions.

Our office can help you prepare a will. To learn more, please contact us.