Last Will and Testament Lawyers
Last Will and Testament
The most fundamental part of any estate plan is the Will. A Will directs how your probate estate is to be administered upon your death. There are several reasons to have a Will in place.
• Inheritance: A Will gives you the opportunity to set out who will inherit your probate estate and in what proportions. Without a valid Will, your probate estate will be distributed according to Ohio law rather than your wishes. A Will can also list specific items that you want given to different people. For example, my antique gold watch to my son and my diamond engagement ring to my daughter.
• Administration: A Will gives you the opportunity to appoint someone you trust to administer your probate estate, called an Executor. Without this appointment, the court will appoint an in-state resident of the Court’s own choosing, giving preference to next of kin and will most likely require the posting of bond, adding expense to the estate. An administrator will also need to ask the court for permission before doing simple tasks like selling property and settling debts, again adding expense to the estate.
• Guardian of a Minor: A Will gives you the opportunity to appoint a guardian for minor children and a custodian to manage a minor’s inheritance. Without such appointments, the court will decide who will care for your children and their finances.
Contact our Last Will and Testament Attorneys Today for Your Family
Contact the Cleveland-based Perla Law Firm, LLC today to discuss a Will and other elder law matters.