Page 30 - Bereavement Guide Book

LEGAL ISSUES

Wills, probate, joint property, estate taxes,
selecting estat trustees/attorneys for property
and personal care and other issues may ap-
pear somewhat intimidating at first. Fortu-
nately, with a little guidance and preparation,
dealing with such matters does not have to be
so overwhelming.

Administration of a Will
A will is an instrument by which a person
(the “testator”) makes a disposition of his/her
property, to be performed or take effect after
his or her death.
A well-drafted Will may provide for the
welfare of the testator’s family, distribute
the testator’s assets in accordance with his/
her wishes and secure the efficient manage-
ment of the testator’s property. Handwritten
Wills (”holographic Wills”) can be made by
a testator without the services of a lawyer,
problems can arise if not done properly and/
or in accordance with applicable legislation.
A properly drafted Will can be a simple, in-
expensive way to address many estate-related
matters, and can make matters run much
smoother upon death.

While there are many benefits to having a
Will in place, there are some things that may
not be accomplished in a Will. It is impor-
tant to keep in mind that some items may
not flow through your estate, and thus may
not be distributed in accordance with your
Will. During the estate planning process it is
important to speak with a lawyer experienced
in such matters and knowledgeable of your
unique situation.

A well designed estate plan can help mini-
mize probate (and other) taxes, and can alert
you to potential statutory claims that may
impact your ability to deal with your assets
as intended.

Page 30 | Peace and Tranquility Funeral Home