Wills
Logic Group can help prepare your will and assure that it is properly signed and executed. A will is a legal document that indicates your desire about the distribution of your assets and property after your death.
A will gives you decision-making control over who will be responsible to administer your estate and follow your wishes (the executor or personal representative), who gets what (the beneficiaries) and also, how and when they are to receive it.
By clearly laying out your wishes and instructions for when you die, you lift an enormous burden that your family members would otherwise have to bear at your death. For those with minor children, what is most important is that a will allows you to state who you want to be responsible for the care of your children (guardian) and their inheritance (custodian). Without a will, these decisions will be made by the court, not you. Wills however, are subject to probate.
A will gives you decision-making control over who will be responsible to administer your estate and follow your wishes (the executor or personal representative), who gets what (the beneficiaries) and also, how and when they are to receive it.
By clearly laying out your wishes and instructions for when you die, you lift an enormous burden that your family members would otherwise have to bear at your death. For those with minor children, what is most important is that a will allows you to state who you want to be responsible for the care of your children (guardian) and their inheritance (custodian). Without a will, these decisions will be made by the court, not you. Wills however, are subject to probate.
Probate is the court-directed process of distributing a person’s assets and possessions after death. The probate court governs the distribution of your estate according to the instructions of your will.
Each state has laws of “intestate succession” which provide for the transfer of property to relatives if a person dies without a will. The law determines who will receive your property and how much each person will receive.
The court will not take into account what you may have wanted. If you have no relatives, then your property may go to the government. If you did not express your wishes in a will, the Court does not know what you want, and therefore must follow the mandates of the law in distributing your property. Your friends, favorite charities and some of your family members who otherwise might have been remembered with a bequest (gift) in your will, may have no standing with regard to the intestate succession laws, and may therefore receive nothing when you die.
Obviously, a major reason to create a will is that all your property will be distributed as you wish, rather than according to the laws of your state. Creating a will is your opportunity to make your intentions clear and to keep important decisions in your hands. Every adult who has property, whether it’s a sentimental piece of jewelry, a home, or artwork, should make out a will.
You may make changes to your will by either making a new will or making a Codicil to your existing will.
Each state has laws of “intestate succession” which provide for the transfer of property to relatives if a person dies without a will. The law determines who will receive your property and how much each person will receive.
The court will not take into account what you may have wanted. If you have no relatives, then your property may go to the government. If you did not express your wishes in a will, the Court does not know what you want, and therefore must follow the mandates of the law in distributing your property. Your friends, favorite charities and some of your family members who otherwise might have been remembered with a bequest (gift) in your will, may have no standing with regard to the intestate succession laws, and may therefore receive nothing when you die.
Obviously, a major reason to create a will is that all your property will be distributed as you wish, rather than according to the laws of your state. Creating a will is your opportunity to make your intentions clear and to keep important decisions in your hands. Every adult who has property, whether it’s a sentimental piece of jewelry, a home, or artwork, should make out a will.
You may make changes to your will by either making a new will or making a Codicil to your existing will.