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Estate Planning Wills Probate and Transfer of Assets 2021

Who Needs a Will?

  •  Include persons who are not heirs. Wills are needed to provide for a person who is not an heir under state law, such as unmarried partners, stepchildren, friends, charities, and in-laws.
  •  Exclude an heir. Heirs are the persons who inherit an estate under state law in the absence of a will. A will is needed to prevent an heir from inheriting probate assets.
  •  Minors and disabled adults. Trust provisions can be included in a will to delay receipt of an inheritance or to allow assets to be used on behalf of an adult who is disabled.
  •  Estate tax planning. Married couples can include trust provisions to reduce estate tax.

Read more: Estate Planning Wills Probate and Transfer of Assets 2021