The Law Dictionary for Everyone
A pour over will is an estate planning tool used in conjunction with a trust. Creating a trust to hold an individual’s assets for distribution after death has many advantages, including tax advantages. Depending on their circumstances, some people choose not to transfer all of their property into their trust, and many people simply forget to transfer newly acquired assets […]
Read moreA Last Will and Testament, now most commonly referred to simply as a “Will,” is a legal document in which an individual records his wishes as to how his possessions and affairs should be handled after his death. The individual making the Will may specify, for example, who should take custody of his children, and which heirs should be given […]
Read moreTo put it simply, a codicil is an amendment to an existing will. Creating a new will when circumstances change, or when the individual changes his or her mind, can be expensive. If the desired change or addition is not complex, stating the new wishes in a codicil is the easiest, and least expensive, way to update a will. Codicils […]
Read more
