Haws & Burke, PC Haws & Burke, PC - Law Firm & Attorney

Wills

Your Will helps to distribute your assets to the beneficiaries you select. In your Will you name an Executor, the person who administers your estate, pays the debts and distributes the assets. You can also name an alternate Executor as a backup.

Even an individual with modest assets can benefit from having a Will. A thoughtful and well-prepared Will can provide for the prompt transfer of assets to beneficiaries and reduce the amount of taxes your estate will pay.

For wealthy individuals a well-crafted Will can provide various mechanisms for reducing taxes and maximizing the value of accumulated assets passing to beneficiaries.

If you have minor children, you can select a guardian who would raise your minor children if both parents are deceased. You can also name alternate guardians.

Additionally, if you have minor children, you should consider who would manage the assets to be held for them. This person is called a Trustee. You can name a Trustee and an alternate Trustee.

Reviewing your beneficiary designations is important to make sure they support the plan established in your Will. Outdated and/or inaccurate beneficiary designations can transfer assets to the wrong people, often with unintended estate and income tax implications.

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