One of the most precious legal rights is the opportunity to distribute property in accordance with one's wishes. Regardless of your age, establishing a Will is one of the wisest investments you will ever make in terms of money management and peace of mind.
Under your Will, you can determine exactly who will receive what and make arrangements keyed to the unique needs of each of your heirs. Particularly for younger individuals, important planning objectives can be accomplished with a carefully drafted Will including: Continuing Family Income— It takes time before the family begins to receive income from the estate. You can provide your spouse with monthly income that will commence immediately and continue until other income begins to flow or a distribution is made from the estate. Guardianship for Minors— When you have minor children, you can name a guardian who has the power to act in the best interests of your children. Estate Administration— You can designate a qualified executor to collect, manage and distribute your assets in accordance with your wishes. It is usually wise to name an alternate executor as well, one who can serve should your first choice be unavailable.