Charleston Estate Planning Simple WillSimple Wills

We only use the term Simple Wills because most client inquiries ask whether we daft simple wills. If appropriate, we do draft basic will packages.  However, for the majority of clients planning their estate, a basic will may not properly carry out their goals and dispositive wishes.

The preparation of a will essentially involves the formulation of a practical plan for distribution of assets, or estate property, based on an individuals specific wishes.  Consideration is also given to a variety of other contingencies that may arise after the will is executed.  Since a will is an individuals last expression of how to dispose of his or her property, a well-prepared will should be written in clear, unambiguous language.

What is a Will

A will is a legal document that is made during a person’s lifetime but generally does not take effect or transfer assets until that person’s death.  The unique characteristic of a will that distinguishes it from other estate planning transfer documents is that only a will can make a complete transfer of an entire property interest of a person’s property, effective at death.  When a person dies, his or her last will must be admitted to probate.  Estate administration during probate involves the inventory and collection of assets, the determination of payment of claims, expenses, and taxes and the ultimate distribution of the remaining estate assets.

Does Everyone Really Need a Will?

Yes. A will is necessary so that you can plan for life’s contingencies and ensure who will receive your assets, who will act as your personal representative, and who will act as guardian for any minor children.