What Can A Will Accomplish?
- Reliable transfers. A carefully drafted will is your most reliable guarantee that the distribution of your assets is conducted according to your wishes.
- Dependability in fulfilling your goals. A will presents the most dependable way of communicating any special intentions you have. The most common, if your family includes minor children, is to specify who will assume responsibility for their upbringing as well as the manner in which you wish them to be raised. Arrangements can also be made for the continuing care of pets, specific directives regarding managing or using your property, and instructions for supporting children, grandchildren, or others through college or other forms of education.
- Flexibility in creation. There is an immense amount of flexibility allowed in the creation of a will. Each person’s will is tailored to the surrounding circumstances of their situation and their specific wishes for when they pass. For whatever particular needs may arise, a will is likely always a viable option.
- Passing on a heritage. Wills provide the best means of indicating who should receive specific family property, items or keepsakes. Such may range from personal items that hold sentimental value to an entire business. If a will contains a statement that the testator (the person writing the will) may decide to write a separate letter concerning such property, that letter will be treated just as though it was part of the will. Please note that there are some very specific limitations on the kinds of property that can be disposed of this way, but it is a great way to hand down personal belongings with special meaning.
Not All Wills Are Created Equal. Make Sure Yours Is Done Right.
At David K. Porter, I will take the time that is needed to ensure you have a customized estate plan that offers the greatest asset protection possible. In addition, I will draft supporting documents so that you will always have a say in decisions related to your medical care and finances. Speak with me today and call 612-722-1001, or email me to schedule a free consultation and find out what you need to have for a comprehensive plan.