What does a Last Will do?
A Will has several functions: 1) It allows you to identify who receives your assets after death. 2) It allows you to identify who will serve as executor of your estate. 3) If you have minor children, it allows you to name a guardian to raise your children. 4) It allows you to create a trust to delay a minor child's inheritance until such time as they are mature enough to inherit.So who needs a Last Will?
Anyone who wants to dictate who receives their assets, especially if you have specific bequests in mind, such as "my diamond engagement ring to my cousin Nancy". Young parents with minor children perhaps benefit most from a Last Will and Testament. Absent a guardianship designation, there may be family fights over who is to raise your children and they may result in a guardian you would not have approved of. Absent a testamentary trust delaying receipt of bequests, your immature 20 year old may blow his inheritance on a Porsche rather than Dental School.Can I draft my own will?
Although websites make drafting your own Will inexpensive, I would recommend against it. For a Will to be valid, it must be properly drafted an executed according to State law. A lawyer can tailor your will to your specific needs and ensure proper, legal execution. At my office, Will prices are comparable to online alternatives with the added benefit of of real, professional, experienced legal advice and the piece of mind that this very important document was drafted properly and to your personal needs.At the Law Offices of Raymond Powell, a Last Will & Testament (including guardianship and testamentary trust) is only $75. Attorney Powell has practiced law for 21 years and drafted thousands of wills. Call today for a Free Consultation. 330-929-8300. On the Web at http://www.akronprobate.org/ . Like us on Facebook!