What Is A Will?

Your will is a legal document by which you designate the persons who will receive the assets you own. A will is also used to appoint legal guardians for your minor children. Estate Planning Boston will work with you to determine what you need in your will and how you can make your wishes clear.

If you have a will, it is a good idea to review it periodically to assure that it continues to be accurate.

Are There Limits Of What You Can Put In A Will?

A legal will can prevent your property from being distributed according to the provisions of state law. A will does not override beneficiary statements commonly included in a life insurance policy, retirement plan, or a joint form of ownership. Many individuals, unfortunately, find out too late that a family member’s will does not carry out that person’s wishes. Succession Planning Law can help you determine if a will is sufficient for your needs.

Does Having A Will Eliminate Probate?

A will does not avoid the expense, delay, and publicity of a probate proceeding, nor does it help to reduce estate tax costs or protect your assets from the costs associated with long-term care. This is why a revocable living trust is often recommended in addition to a will.