Estate Planningpdf

Last Will and Testament

Legal document specifying how your assets should be distributed after death, naming an executor, and designating guardians for minor children.

Instructions

Testator: Enter your full legal name, address, and date of birth

Revocation: State that this will revokes all prior wills and codicils

Executor: Name your executor (personal representative) and an alternate

Beneficiaries: Specify who receives what — be as specific as possible

Residuary Estate: Name who receives everything not specifically bequeathed

Guardians: If you have minor children, name a guardian and an alternate

Signatures: Sign in the presence of two disinterested witnesses (three in some states)

Self-Proving Affidavit: Have the will notarized to simplify probate

Note: A will does not avoid probate. Consider a living trust for probate avoidance. Store the original in a safe place and tell your executor where it is.