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Basic Estate Planning Documents Explained

Basic Estate Planning Documents Explained

The Will is a written instrument executed with the formalities required by state law, whereby a person makes a disposition of their real and personal property to take effect after their death. The primary purpose of the Will is to dispose of the probate property to named beneficiaries. If you die intestate, meaning without a Will, the probate court will apply state law to appoint an administrator to handle your affairs and determine who is entitled to your property upon your death. Not only is it costly to an estate to leave such decisions to the probate court, but also the choices made under the laws of intestacy may not coincide with your wishes.

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