A Last Will and Testament must pass through probate before beneficiaries will receive their estate percentage. Even if a Living Trust is employed to divide the majority of the estate, it is wise to include a Pour-Over Will to account for anything the testator may have forgotten. For this reason, it is considered the most important component of any estate plan. Last Will and Testament (‘Will’) – A Last Will and Testament is a document specifically designed to provide instructions on how an individual would like their estate to be handled following their death. It is not uncommon to use both or either of these documents as they are both functional tools in delivering assets and property to beneficiaries. There are two (2) principal legal instruments used to communicate the deceased’s wishes for estate administration a Last Will and Testament, and a Living Trust.
0 Comments
Leave a Reply. |
Details
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |