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What Are The Top Benefits Of Having A Last Will And Testament?

By Author: Carl Glendon
Total Articles: 127

A last will and testament is the name given to a legal document that allows the person who makes the will, a testator, to designate charities or individuals to get the possessions and property of the former when he / she passes away. Such charities and individuals are referred to commonly as beneficiaries in the last will that you prepare. Know about some of the main benefits of a Last Will and Testament draft.

Helps name a guardian for kids

This document helps you to name a guardian for caring for your minor. The prime reason for having a will is to make sure that the wishes of the testator, and not the state’s default laws, would be followed when the testator dies.

Works as a basis for estate plan

A last will and testament form works as a basis for an estate plan. It is the primary instrument that is used to make sure that the settlement of the estate is done in a desired manner. There can of course be more than simply a will when it comes to an estate plan, but the last will is the presiding document used by a probate court to guide the estate settlement process. Any asset that has not been specified by a beneficiary, whether it is a retirement plan or a life insurance policy, is not included as a probate asset and is directly passed on to the beneficiaries. For more information about getting last will and testament form, please visit this website.

Asset disposition

A last will and testament directs a court in disposing of every asset, including the amount and who is supposed to get them. Arrangement of appointing a guardian for surviving dependents is established, and any specific circumstance is also accounted for in this specific document – such as caring for an ageing parent or a child that needs special type of care.

Author Resource:-

Carl writes often about affidavit, bill of sale and last will & testament to help the people in needs. You can find his thoughts at printable last will forms blog. Please visit this site to get last will and testament in Kentucky.

Total Views: 39Word Count: 374See All articles From Author

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