WILLS and PROBATE
 

A person does not need to have a large estate to plan and prepare for death. No one likes to think of death but we can avoid it. A will may give you peace of mind. Anyone who has a child, owns property, whether "personal property" such as cash, stocks, jewelry or furniture, or "real property," such as land and/or a house, should prepare a will. If married, each spouse should have a will.

A will is a legal document that determines what happens to your property after your death. A will states who receives property and how much property they will receive.

In addition to distributing or transferring property, a will may be used to name a guardian for any minor children or dependents, or to create a trust and designate a trustee to handle the property left after death on behalf of your children or other people. This is especially important if you have a blended family so as to avoid disputes between family members once you have past away.

DYING WITHOUT A WILL

When there is no valid will then the person is said to have died "intestate."  A court appoints an administrator to handle the decedent's affairs, and his or her property is then distributed according to a formula fixed by law. The laws for distribution of an intestate estate are rigid and generally do not make accommodations for those in unusual need. After payment of taxes, debts, funeral expenses and administrative costs, the property goes to the surviving spouse, children and/or relatives. The laws are specific as to how property is to be distributed, including which relatives have priority and how the property is divided and you do not have a choice on how things are distributed.