A will is a revocable written legal instrument, which permits you to control the disposition of your assets after death. While a will is structured to mirror a testator’s, circumstances and intentions, most wills have a certain number of universal elements contained within:
- The of name and address of your chosen Executor to administer your estate, also an alternate
- The detailed description of the particular assets and personal possessions each beneficiary will receive
- If you wish to make a bequest to certain individuals or organizations they should be specified
- If you have underage children, appointment of guardians and possibly a trustee should be addressed
- Retirement plan designations
- How the balance of the estate, “The Residue” will be distributed
- A detailed description of the powers vested to the executors and trustees.
For a more detailed explanation of the will process contact the Law Offices of John A. Russo.