One of the first things that come to mind when one thinks of “estate planning” is a will. A will is an essential component of any estate plan and for many people, a will accomplishes the goal of transferring property to a particular person or entity after death, consistent with the wishes of the transferor.
At death, the property provided for in the will does not automatically pass to the intended beneficiaries. Instead, the will must go through the probate process, where, under the supervision of the probate court, the decedent’s debts are paid,
A well-drafted will avoids the problems that result if one does not have a will, wherein the state’s intestacy laws determine who gets the decedent’s property. A will also ensures that property is transferred to the intended beneficiary, provides for a guardian for minor children, designates an executor to administer the estate, provides guidance on funeral wishes and can minimize the stress of leaving certain decisions up to the decedent’s loved ones.
Contact the Law Office of Martín P. O’Hara to discuss whether a will is a good option for you and your family.