Frequently Asked Questions:

WHAT IS A WILL? A Will is a legal document that states your desires concerning what will happen to your assets after your death. A Will also contains other specific directions from you concerning who is to implement your instructions and, if appropriate, who will care for any minor children you may leave behind. A Will does not prevent the probate of your estate assets.

WHY SHOULD I MAKE A WILL? If you die without a valid Will, the laws of your State determine what happens to your assets. Your wishes will not be considered and therefore, your assets may go where you don't want them to go.

ARE ALL OF MY ASSETS CONTROLLED BY MY WILL WHEN I DIE? No. For example, proceeds of life insurance policies and retirement plan assets (including assets held in an IRA, 401(k) or 403 (b) plan) will be distributed as you direct in a beneficiary designation form that you complete and submit to the insurance company or the custodian of your retirement plan. Bank accounts or any real estate that you own can be titled to assign those assets to individuals you designate, outside the probate process. Therefore, it is extremely important that you review your options, to insure a cohesive estate plan.

WHAT IS PROBATE? The Probate process accomplishes the transfer of your assets from your name to your beneficiaries under your Will and gives your creditors an opportunity to be paid from your assets.