A Will is a legal document that allows you to distribute your property to those you choose. A Will allows you to designate who is to receive certain items from your estate when you die. For example, if you wanted your favorite stamp collection and antique car to go to your favorite uncle, you could designate him as the beneficiary of these items in your Will. The Personal Representative is the person you designate in the Will who will carry out your wishes after you are gone.
A Will also gives parents of minor children a place to nominate a guardian for them. The court makes the final decision when appointing the guardian for your minor children after your death, but the court will usually accept the nomination you designated in your Will.
A Will will be admitted to Probate Court upon your passing. This will ensure that the court will oversee the administration of your estate after you passing, but it also means that there will be attorney’s fees, court costs, time delay, and a public administration of your estate.
Contributed by MH Arrowhead, Scottsdale and Phoenix Estate Planning Attorney and Partner, David T. Eastman.
Why Choose Morris Hall:
You have a number of options when it comes to estate planning, so why pick Morris Hall? First off, estate planning and asset protection are a very complicated endeavor and you should only trust someone who focuses exclusively on those matters. Also, MH is a proud member of The American Academy of Estate Planning Attorneys (AAEPA) which provides us additional support, advanced training, tools and information that is not available to others – which means that we can better protect your assets and your loved ones. We are one of only two firms in Arizona that belong to the AAEPA and are the only firm in New Mexico that has been granted membership. If you have assets and loved ones that you want to protect, you are in good hands with MH. Contact us today at 888.222.1328 to schedule an appointment!
This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.
- Planning for your frequent flyer miles.How Anthony Bourdain did it. - July 11, 2018
- Traveling – Plan for Your Destination! - June 27, 2016
- Happy 100th Birthday to the Federal Estate Tax - June 22, 2016