Using a Will To Specify Your Desires For Your Assets
The most well known estate planning document is the Will. The Will is a document that specifies the individual's desire for distribution of his property and other assets after his death. This can avoid the (surprisingly common) fights over who gets what after an individual dies.
A Will typically involves three things. First, an individual designates specific items he wishes to give to specific individuals. Then, he designates what he wishes to happen to the remainder of his assets and property. Finally, the individual designates an Executor to process the Will through the courts and to carry out the Will's commands.
Because a Will only takes effect after an individual's death, it is only one part of an estate plan that should also include a Power of Attorney and a Living Will. The Will must also be carefully considered to ensure it includes all assets and property, thereby avoiding any legal fights, and that it appoints a trustworthy Executor. Call attorney Wes Sullenger at (270) 442-4369 to schedule a consultation during which we can discuss your specific needs and what we can do to help you.