A Will Does More Than Just Give Your Stuff Away

A will has many functions.

People think of wills as legal instruments that dispose of your assets upon death.

Very simply, a will designates who your things will go to.

There are a lot of caveats here because some property cannot eb governed by a will, including property that you don’t own or property that is held in survivorship.

But generally, a will states who will get your things.

However, that’s not the ONLY thing that a will does.

So what else does a will do?

Wills do several very important things other than simply giving your stuff away.

1. Waives the probate bond requirement
   When someone dies their heirs have to pay a bond to the probate court to ensure they will not run off with the persons money. A will can waive this requirement to make probate cheaper. Without that waiver, you have to pay a bond.
   
2. Appoints executor (or personal representative)
   A will nominates who you want to take control of your things and makes sure everything gets distributed in accordance with your will. Without a will, a person must petition to be appointed the executor. With a will, you can nominate someone you trust. And the court typically honors your nomination.
   
3. Gives the executor powers
   A will can grant the executor certain powers, like the power to sell real estate or pay off debts, etc… These powers can be granted by the probate court, but sometimes you need to get court approval to act on those powers. With a will that outlines all of the powers of the executor, you don’t need to wait for court approval on various powers. This streamlines the probate process.
   
4. Makes intentions known
   Some wishes are not legally binding. Your funeral wishes are not legally binding. But, you can make your wishes known in your will so that your family can honor them.
   
   
   
   If you need a will, give me a call or email me at:
   (860) 913 0210
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