When it comes to the words “last will and testament,” it can be hard for some not to shudder. There are a lot of stigmas surrounding wills; many people believe they are too hard to figure out, or some simply don’t fill them out due to being nervous about the future. But, as always, it is incredibly important to be prepared at all times for the worst. Know that working with a law attorney will protect yourself and your family down the line, and in order to break any predisposed thoughts you may have, here is a quick introductory guide to last will and testaments.
What is a will and a testament?
In the world of law, a will and a testament are the same thing and can be used interchangeably. Simply put, a person’s will and testament is a written legal document that breaks down the distribution of all property and assets of one person’s estate after their death. This includes everything from personal possessions to intangible assets such as any patents or copyrights the person may own.
How long does it take to make a will?
Many people think that creating a will is a long process when in reality it can be drafted in just 10 to 15 minutes! Working with a qualified estate planning lawyer is key, as they will walk you throughout the entire process step by step.
Who takes care of my will once I have passed?
Every testator — the person creating the document — will pick an executor. This person will be in charge of carrying out the person’s wishes including paying beneficiaries, distributing possessions, and even paying debts. It is important to remember that you can always have more than one person to be your executor, as they can divide up the duties easier this way.
What is defined as a beneficiary?
This is completely up to you. Your beneficiaries are anyone who will receive a portion of your estate and in your case, this can mean a charity, an organization, or simply your descendants.
Your last will and testament is not something to be scared of. Come on down and work with our lawyers today to ensure peace of mind in the future.