The Will
The will is the most basic part of every estate plan. By definition, it is a legal declaration of a person's wishes regarding the disposal and distribution of his or her estate after death. The will is the legal document drafted during your lifetime that addresses numerous issues:
- Final testimony of your Christian faith
- Property and asset distribution
- Naming a personal representative
- Naming a legal guardian for minors
- Reducing estate tax liability
In the absence of a will, the state will resort to a formula. A judge will name an executor, bond may have to be posted, the court will name a guardian for any minor children, and a formula will determine asset and property distribution.
Every state has different laws and regulations when it comes to the execution and validity of a will, and they are often strict. Be sure to retain a competent lawyer who is familiar with the laws of your state of residence to draft your will.
Information on this site is NOT intended for legal advice. See Disclaimer.
Gospel for Asia is a legally recognized nonprofit organization exempt from federal income tax under Section 501(c)(3) of the Internal Revenue Code.
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