Understanding A Last Will And Testament
The Last Will and Testament, which most people understand to be a “Will,” is used, among other things, to designate the recipients of an individual‘s property upon their death (see more detailed discussion below). In the absence of a Will, the distribution of an individual‘s property will be determined by the State according to an intestacy statute. In many cases, the distribution of an individual‘s belongings pursuant to an intestacy statute does not conform with their actual wishes. In some limited cases, the decedent‘s belongings may actually become property of the local Board of Education.
Scott and Scott, P.A., can provide a basic Last Will and Testament that directs, among other things, the manner in which an individual wants their assets to be distributed upon their death, and designates a Personal Representative. For many individuals concerned primarily about cost, our basic Last Will and Testament will provide a low–cost, high quality product.
Although we are willing to provide the basic Last Will and Testament, we recommend our clients strongly consider contingent special needs trusts for all potential bequests.
Contact us to discuss your estate planning needs.