Estate Planning Guide - Understanding your will...

Estate Planning Guide

A guide to understanding your Will.

Estate Planning Guide is an easy to understand, 13-page guide to help demystify what is involved in planning your estate, or preparing to make your Will. Most of the content in here is available on demand while you go through BuildaWill™. BuildaWill's forms do not address estate tax planning. You may wish to get professional advice regarding tax planning or other aspects of your estate plan.

You can begin the Estate Planning Guide now, or you can choose a subject below for quick reference.

Legal information and forms were last revised: Oct 2, 2002

An Introduction to Estate Planning
What is Estate Planning?
Keeping your Will up to date
Your Will in a nutshell-
What happens if you have no Will

The Benefits of having a Will
The most important benefit
Avoid Intestacy
Choose your own Executor
Appoint Property Guardians or Trustees
Choose a Guardian for your Children

Your Estate Plan
Everyone should have a Will
Things to keep in mind

Your Family
Spouse
Children
Stepchildren
Children as Beneficiaries
Lineal Descendants

Your Executor
Your Executor's responsibilities
Your Executor's powers
Choosing the right person
What to tell the person you choose

Your Property
Make an inventory
Personal Property
Joint Property
Debts and Net Values
What you can't leave
Tips on identifying property

Estate and Inheritance Taxes
How taxes affect your estate
Federal Taxes
State Taxes

Beneficiaries
What is a "Beneficiary"?
Who Qualifies as a Beneficiary?
Different Types of Beneficiaries
   -Specific Gift Beneficiary
   -Residuary Beneficiary
   -Alternate Residuary Beneficiary
Restrictions on Beneficiaries
   -Minor
   -Spouses
Charities
Survivorship Period

Trustees or Property Guardians
Why would I need one?
Trusts and BuildaWill™
What can the Trustee do?

Guardian
What a Guardian does:
What to consider when selecting a Guardian
Who you choose is subject to court approval

Signing and Witnessing your Will
Why you need a witness
4 steps to making your Will valid

Storing your Will
Finding a safe place for your Will
Don't forget to let the Executor know!

Updating your Will
When to change your Will
How to change your Will
How new Wills revoke older ones
Lets make your Will!

State Bar Association information
Get details on contacting your state's Bar association for more information concerning Wills.

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Legal information is not legal advice and information alone may not meet your specific needs or questions. Use of such information and the BuildaWill™ application is subject to the Terms of Use and is not a substitute for obtaining the advice of an attorney authorized to practice law in your jurisdiction. The information on this website and use of the BuildaWill™ application are provided "as-is." BuildaWill.com is a legal information website. Copyright 2002, BuildaWill.com, ® Legal information applies to all states of the United States except Louisiana.