What is a Will?
A will is a legal document that allows you to control how your possessions will be distributed after you pass away. A Last Will also enables you to designate a guardian for your minor children as well as provide instructions and set aside funds for the care of any pets you may have.
A person writes a will while he or she is alive, and its instructions are carried out once the individual dies. A will names a still-living person as the executor of the estate, and that person is responsible for administering the estate. The probate court supervises the executor to ensure that he or she carries out the wishes specified in the will.
Dying without a will is known as dying intestate. If you do not have a will when you die, the state will decide how your assets are divided. If you have children or have no legal partner, the distribution of the estate has the potential to become confusing. In extreme cases, everything you own could become the property of the state, simply because there was no legally binding will at the time of death.
A will and a Last Will refer to a document that determines what happens to your property if you die. It sets out who your belongings should go to, how, and who is in charge of making that happen. A Living Will, which is also sometimes known as a Healthcare Directive, lets your loved ones know about any health care decisions that you'd like to be made while you're alive if you're unable to express these wishes when the time comes.
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