A
Will is a written document that allows
you to control the distribution of
your estate, either directly to your
heirs or through a trust that is contained
within your Will. If you do not have
a Will, your estate will be distributed
according to state law - this is called
intestate succession. A Will
further allows you to appoint a Personal
Representative (the person or financial
institution who will probate your
Will and carry out its terms), guardian
of your minor children, and finally,
the custodian of the assets which
may pass to minors. By having a properly
drafted and signed Will, you can excuse
your Personal Representative from
posting a bond, thereby reducing estate
expense.
