Wills, Living Trusts, Estate Planning & Elder Law
A will specifies how the assets of an individual (the testator) are to be distributed. It may also include other instructions, such as the testator’s wishes regarding funeral arrangements. The will becomes effective only at the time of death and not before. It has no effect on the testator’s assets while he or she is living. In the will, an executor is appointed who is responsible for carrying out the testator’s wishes.
As with a trust, a will can be written to account for many circumstances. However, there are certain rules that must be followed when preparing the will to ensure its legal effectiveness. The Law Office of Michael Camporeale, P.C. should be consulted to ensure that the will is properly drafted and executed. A will must be tailored to each individual client in order to offer the best estate tax protection.