Wills are the primary documents in most estate plans. A will designates how assets are to be distributed after one passes. Well-drafted wills also name personal representatives empowered to navigate the probate process on behalf of the deceased. When applicable, they also may name guardians for minor children.
In a will-based estate plan, a clearly drafted, legally compliant will gives family and loved ones a clear statement of how assets are to be distributed. Having a will in place shortens the time and lessens the expense of the probate process. Without a will or trust in place, state law will determine how probate assets will be distributed.
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