Why You Need a Will
Virtually everyone should have a Will. This estate planning document specifies the following:
· Who will receive your assets;
· How they will receive your assets (outright or in trust); and
· When they will receive them upon your death (immediately or over time).
A Will is also where you will name an Executor to carry out your wishes, a Guardian for your minor children, and possibly a Trustee to manage any Trusts that have been created. Without this crucial document, the State will decide who, how, and when your heirs will receive your assets, as well as who will care for your minor children.