A Will, or Last Will and Testament, is the most basic step in estate planning.
A Will, or Last Will and Testament, is the most basic step in estate planning. It will direct what you want to happen to some, or even all, of your assets upon your death. This is also where you would identify who you want to care for any minor children should you die before they are fully grown. For many younger people, a Will is the only estate planning document they need. No matter how complex your estate plan, however, you?ll almost certainly need to have a Will as a part of it.
Proper estate planning will allow you to ensure you are able to control what happens to your assets now and after your gone. It is the best way to ensure your specific wishes are followed rather than hoping the courts make the right choices on your behalf. There are many benefits to estate planning including minimizing the taxes that are owed, maintaining privacy for your estate, helping your loved ones avoid probate court, and much more.
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