Your Will

Writing a will protects your family and ensures that your wishes will be carried out. Anyone of legal age with any property should have a will. If you die without a will, or what is known as intestate, your estate will be distributed as determined by state law and administered by someone appointed by a court. In addition, the court will decide who will care for your minor children. Dying intestate also can increase the tax burden for your heirs and cause dissension within your family. A will enables you to:

Distribute your property as you wish, including personal property of sentimental value.

Provide for future management of investments or a family business.

Designate guardians for your minor children.

Select the person you want to distribute your estate, eliminating the necessity of an expensive, court-appointed administrator.

Minimize taxes and administration expenses in the settlement of your estate.

Provide for special desires, such as charitable contributions.

Everything you own at the time of your death may be considered part of your estate, including your home, bank accounts, insurance policies, and any of your other assets. Have you ever stopped to think about what will become of all that when you're gone? Don't assume it will be distributed according to your wishes. The fact is that if you haven't done the necessary planning, you don't have much control over what will happen to your estate after your death. A carefully developed estate plan can help make the transition to a life without you easier for your family.

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