A will is a document which directs the disposal of a person's real and personal property in the event of his or her death.  A will may also contain a provision for the guardianship of minor children, and may appoint someone to execute the will.

Any adult of sound mind is entitled to make a will.  In addition, the will must be typewritten and must expressly state that it is your will.  You must date and sign the will in front of at least two witnesses.  These witnesses must be people who will not inherit anything under the will.

 

Living Trusts

A trust, somewhat like a corporation, exists only on paper, but is capable of owning property.  A trustee must be appointed to be in charge of the property.  You can actually appoint yourself as trustee.  A living, or revocable, trust allows property to be transferred promptly to beneficiaries upon a person's death, avoiding the necessity of probate and probate fees.  It may be amended or revoked at any time.  A living trust may also reduce or eliminate federal estate taxes.  You may wish to consult an accountant or a tax lawyer for advice in this regard.  

The Wall Street Journal says, "If you own Real Estate, whether paid for or not and have even modest assets, you should have a Revocable Living Trust."

Attorney Services

If you are an attorney with too much work, but you don't want to increase your in-house work force, REH Paralegal can ease the burden on your staff. We are On-Line with Lex/Nex, Westlaw, Shepards, State Links, etc. for legal research

 

For more detailed information, please feel free to contact me at any time.  I look forward to working with you.