Wills

Everyone Needs a Will

A will is important because if you do not designate who will inherit your property, our state statute will. And, very likely, the statutory distribution scheme (known as intestate distribution) will differ from your wishes.
 
Typically, intestate law divides the decedent's estate between the surviving spouse and children. The distribution scheme of our intestacy laws vary depending on if the decedent leaves surviving parents or children from a previous marriage. If your children are minors, the court will require a conservator to be appointed to receive and manage the property the children inherit. This can be a cumbersome and expensive process, requiring court supervision throughout the children's minorities.
 
 
Perhaps most important, a will gives you the opportunity to designate a guardian for your children. You have better insight than a court into which of your relatives or friends will best be able to care for your children, both emotionally and financially. Your will can put the structure in place, designating the best person for each type of function.
 
A will also can simplify the probate process for your survivors. For example, you can designate a personal representative (also known as an executor) to handle your estate. You can direct how taxes and debts should be paid. If you so desire, you can waive or require supervised or independent administration. You can waive any requirements that your personal representative post a bond.