Will

The primary purposes of a will are: 1) to name guardians for minor children and dependents; and 2) to distribute assets. As the creator of a will, you’re providing legacy instructions and naming trusted individuals to carry them out upon your passing.

A will, by itself, does not prevent your estate from going through probate. Probate is required to determine guardianship for a minor child when no parent is available to be guardian. Probate is also required when an individual passes away leaving individually-owned real estate, or $75,000 or more in personal property. Probate may be required for other reasons, also. Such as: disagreements among beneficiaries, questions about the validity of a will, cash gifts to individuals or charities, creditor claims, or estate insolvency, among others.

Probate can be avoided while using a will. Probate is typically not required if you’re married and pass away before your spouse. If you’re married and own any and all real estate jointly, you will likely avoid probate. The guardianship of any minor children and the majority of your assets will transfer solely to your surviving spouse. You may also avoid probate if you have no minor children and you name beneficiaries to your home, checking and savings accounts, investment accounts, cars, boats, and any other assets eligible for beneficiary designations.

A will enables you to leave instructions for the care of your minor children and dependents. A will also allows you to distribute your assets according to your wishes. Joint ownership and beneficiary designations make it possible to avoid probate while using a will.

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The link below provides a fill-able document meant to obtain the information you would need to create a will.  

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If you would like to speak with an attorney, or to have one review your completed Will Questionnaire, please email us at info@nextgenerationlegal.com or call 651-243-0716