Your Last Will and Testament is one of the most important legal documents you will execute. The Will assists your heirs with implementing your intentions, avoids disagreements between beneficiaries, and plans for the future while you still have the mental capacity to do so.  Wills are not just for the rich!

The beginning of every Will sets forth the identity of the maker. Generally, it proceeds with directing that debts and expenses (such as funeral costs) should be paid before any distributions are made to any beneficiaries. After, the Will proceeds to list any specific assets and who they should be distributed to. Most commonly, this section would include prized family jewelry, collectibles or antique vehicles, firearms, or any item of personal or real property that should go to one or more named individuals.

Even if you list every specific item of property you own, and identify a beneficiary, your Will should always include a catchall clause, specifying that any property left after the specific distributions are made should go to one or more individuals. This ensures all property you own at your passing is protected and distributed.

Finally, every Will identifies an executor (and usually a backup) who is the individual that will be responsible for administering and implementing your Will when the time comes.

In addition to the basic features of a Will, other provisions may be added if necessary for your unique circumstances. Most commonly, if you have children under the age of 18, your Will can also identify the legal guardian in the event one is needed. A trust could also be established via your Will to protect your assets from being transferred to your children until a designated age.