Wills

A Will is a document that lets you tell the Probate Court:

bullet who will manage and distribute your estate;
bullet who will inherit your estate;
bullet who will raise your minor children; and
bullet the age you want your children to receive their inheritance, rather than age eighteen (18), as required by law

If your assets are under $50,000 (both real estate and personal), a Will is adequate.  In addition, you should have a General Durable Power of Attorney, a Healthcare Power of Attorney and a Living Will.

IMPORTANT

bullet A Will does NOT avoid probate
bullet If you are divorced..... and do not have a Will, it is possible that your former spouse (or the natural parent of your child if you were never married) could get all of your estate if something were to happen to you and your minor children.

 

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