Is having an out-of-date will better than having no will at all? While wills do not have expiration dates, certain changes can render them useless. When this happens, having an out-of-date will can be the same as having no will at all. It is important to review your will periodically to ensure it still does what you want. The following are five ways your will can become out-of-date: Your beneficiaries have died. What happens if your will leaves your estate to your two siblings, but both siblings die before you? If your beneficiaries predecease you, your will is still technically…
With a will can you name the Executor / Personal Representative (“PR”) you would prefer to handle your estate after your gone. The PR gathers and protects all your assets, pays all your debts, and distributes your property in accordance with your wishes as set forth in the will. If you have no will, someone has to file with the Probate Court to get the legal authority to deal with your property and do the same tasks as the PR. However, a Probate Court Judge decides who the PR is. Consequently, a family battle could ensue. Therefore, a will solves…
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