What Can a Will Do?

Earlier, we covered some of the unfortunate consequences of not leaving a will.  But, if there is a well-drafted will in place, what can it do?

Generally speaking, a will states what a person intends to happen after his or her death.  This person is the testator.  Specifically, a will directs what the testator wants to happen to her property after her passing.  Additionally, because a will has no legal effect until the testator is actually deceased, the testator obviously will not be around to carry out his own wishes.  Therefore, a will can also appoint who will carry out the wishes of the deceased person.  At its most basic, a will appoints the executor of the will – the person who will carry out the testator’s wishes.

When the testator includes more complex provisions, a will may also name trustees to preside over trusts that the will may create.

A will can do the following:

• Appoint a guardian for a minor child or an incapacitated child;
• Give property and assets to a surviving spouse;
• Give property and assets to children, grandchildren, or other surviving descendants;
• Give property and assets to charity, or other causes important to the testator;
• And, in certain instances, ensure that certain parties do not receive any of the testator’s property or assets.

 What Property and Assets Are Covered Under a Will?

Property and assets that can be passed through a will include real and personal property.  With personal property, a testator can provide for all the things that we take for granted in our daily lives – jewelry, furniture, dishes, books, electronics, clothes – even the car in the driveway.  Same for cash and stock.  Same for real property – whether it’s the house the testator lives in, or whether it’s property that’s out of state.  A will can be used to pass on any or all of these things.