Will
What you need to know about wills
- Wills need to go to probate court upon death. Wills express what an individual wants to do with their money after their death. Any third party managing assets or investments can not act upon the wishes of the deceased until it is filed in court.
- Wills are public documents. After the death of an individual your will becomes a public document after filed in court.
- Wills focus on the allocation of money, investments, and properties of an individual.
- An individuals last will and testament indicates their allocation of their assets, a living will covers the medical health care desires by an individual.
- Each state has separate laws and guidelines of how their wills must be filled out and created. States have various different rules for the personal representative or executor of the will.