It can take a lifetime to build an estate that is robust enough to support you and your loved ones. Unfortunately, passing away without a comprehensive estate plan can decimate your assets in a surprisingly short period of time. Between costly legal expenses like probate, excessive taxes on your estate and mismanagement, some or all…
The most well-known estate planning tool, a Last Will & Testament is a legal document which comes into play after you pass away. It outlines who will be given your money, your things, your home and/or other real property.
The Will outlines what happens with your body (burial, cremation). Most Wills also say something about guardianship for your minor children.
Finally, the document will also appoint a person to make sure all these things happen, they are usually called an Executor.