You may spend a lot of time thinking about having a will, but what does a will really do? It is a legally binding document that spells out the last wishes of the author upon their death. Here are some of the things that having a will can accomplish for you.

Revoking Prior Wills

The first thing that your will does is to remove the power of any wills that may have been created prior to the current one. This can be critical if the people or stipulations named in the will have changed from previous documents. Making sure to do this prevents confusion that can come about from multiple documents.

Handing over Guardianship

For anyone with children this is a critical part of the document. Any dependent children are going to need to have a guardian to take care of them, and a will can handle this. Without this being specficially stated in a will, guardianship can be handed over to anyone the state determines worthy. This means that guardianship of your dependents could pass to someone you did not wish to have it.

Appoint an Executor

An executor is the person legally responsible for representing your estate in the event of your death. They must carry out the instructions left in your will and distribute your assets according to your wishes. Your executor may charge the estate for their services if they wish.

If you need to create or update your will, contact Stano Law group.