Last Will and Testament
A last will and testament is a legal document where you specify how and to whom your property is to distributed after your death. The last will and testament should specify an Executor: this is a person or organization tasked to implement the instructions you specified in your last will. If you have children under 18 years of age, you can also make recommendations as to who you would like to have as the Guardians of the minor children.
Comparing a Last Will and Testament with a Living Trust
On the surface, a last will and testament appears similar to a living trust because both are tools for managing your estate after your death. But there are some notable differences. Here are a few things to consider:
- A will pertains to your property and goods that are under your own name. It does not control items in a trust or joint accounts.
- A trust pertains to property and goods which you have transferred into the Trust. If you create a trust, but do not change ownership of your goods to the Trust, then the trust will be of no benefit to your heirs or beneficiaries.
- Wills go through probate and wills become a part of public records so anyone can see the contents of your will. In contrast, trusts do not need to go through probate and are not open to the public.
Simple Legal Utah employs a team of legal experts who can help you create a last will and testament. Each state has specific guidelines and it is imperative to recruit the efforts of an attorney so that your last will is complied correctly and within state regulations. Please make an appointment for an in-office meeting or call us at: (801) 362 3786 for a 30-minute free consultation. If you have a question or a situation which you would like to discuss, you can also send us email.