A Last Will and Testament is a document that states how your probate assets
will be distributed at your death, who will act as the personal representative
(executor) and who will be guardians of your minor children.
This is to be distinguished from a living will which covers life-prolonging
procedures and treatment in the event of incapacity.
If you do not draft your Will properly then the wrong people can receive
your assets, or the ones you’ve chosen can receive the wrong share.
In addition, your minor beneficiaries can receive assets when they are
18 rather than at a later date.
Further, your personal representative may be required to put up a bond
in order to handle your estate, which is an additional cost to the estate
and creates delays and further attorney’s fees.
A Will that is not properly drafted may not be executed properly. This
would affect its acceptance by the court and can require the witnesses
to have to appear at the courthouse to sign paperwork to impact the validity
of the Will.