What Is a Will

A will is a legal document that states what you want to happen to your property, finances, and personal affairs after your death. It allows you to decide who receives your assets, who will manage your estate, and who will care for your minor children.

Without a valid will, state law determines who inherits your property, which may not reflect your wishes.

What a Will Does

• Name your beneficiaries who will receive your property.
• Appoints an executor or personal representative to manage and distribute your estate.
• Allows you to nominate a guardian for minor children.
• Provides instructions for specific gifts of personal property.
• May state funeral or burial preferences.

What Makes a Will Legally Valid

• The testator must be legally competent and meet the minimum age requirement.
• The will must clearly identify the beneficiaries and the distribution of assets.
• An executor must be nominated.
• Guardians should be named if minor children are involved.
• The will must be properly signed and witnessed in accordance with state law.

Failure to follow legal formalities can invalidate a will, which is why many individuals choose to work with an estate planning attorney.

The Role of the Executor

• Locate and secure estate assets.
• Notify creditors and pay valid debts.
• File necessary tax returns.
• Maintain property during administration.
• Distribute assets according to the will.

Probate and Asset Distribution

A will guides the probate process but does not avoid probate. Probate is the court-supervised process that validates the will and oversees the distribution of assets titled solely in your name.

Assets That Typically Avoid Probate

• Retirement accounts with designated beneficiaries.
• Life insurance policies with named beneficiaries.
• Payable on death or transfer on death accounts.
• Jointly owned property with right of survivorship.
• Assets held in a trust.

When to Update Your Will

• Marriage or divorce.
• Birth or adoption of a child.
• Death of a beneficiary or executor.
• Significant changes in assets.
• Moving to another state.
• Major relationship changes.

Additional Estate Planning Documents

• Durable power of attorney for financial decisions.
• Advance healthcare directive for medical decisions.
• Revocable living trust to manage assets and potentially reduce probate.

Protect Your Family With a Clear Plan

A will is one of the most important legal documents you will ever create. If you do not have a will, or if your current will needs to be reviewed or updated, now is the time to act.

Braggs Law Offices helps individuals and families create clear, legally sound estate plans. Call (703) 972-5640 today to schedule a consultation or visit our Contact Us page to get started.