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.

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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.