Leaving a will is the best way to ensure heirs or descendants may inherit from your estate. Issues of property distribution may arise when a birth parent or adoptive parent dies without making a valid will or without naming an heir to particular property (referred to as intestacy). In these cases, State law determines who may inherit from whom.
If a person does not have a will or has not adequately planned for the distribution of his or her estate at death, survivors may face a complicated, time-consuming, and costly process. Often survivors wind up having to pay more taxes on their inheritance than they would have paid had there been a will or other estate planning tool. To provide for surviving friends and relatives, or to support favorite causes or charities, a person should plan for the distribution of his or her estate after death. With planning, an estate can be distributed as fairly as possible with as little tax burden as legally allowed.
- Last Will and Testament
- Revocable / Irrevocable Living Trusts • Power of Attorney
- Health Care Surrogate
- Living Will
- Probate and Estate Administration
What Is A Living Will?
A Living Will is the popular name for a document spelling out the general kinds of medical care you would want–or not want–in the event you became unable to communicate with your health care providers. Other names for a Living Will are a “medical directive” or “medical declaration”. It does NOT impact who gets your property or who is your Personal Representative or Guardian of your minor children.