Your Will and Estate Plan

Your Will—The Key to your Estate Planning Success

A Solid Estate Plan Starts with a Will

If you die without a will, the state decides how your property is distributed, a troublesome and potentially costly situation for your heirs.  Preparing a will is a vital step in your estate plan because it ensures your personal wishes are carried out.

Generally, a will may provide for:

  • Payment of debt and expenses
  • Distribution of your property
  • Appointment of a guardian for your minor child
  • A gift to charity
  • Continuation of a business
  • Appointment of a personal representative

Several Types of Wills

Simple Will

The most common type of will, a simple will, typically is used to leave everything to the surviving spouse.  This arrangement, however, may not take advantage of tax savings strategies under current laws.

Will With Testamentary Trust

A testamentary trust is used to delay the distribution of assets to minor children of other family members until they are more capable of managing those assets.  Many times, the provisions of this trust, which goes into effect when the trust’s owner dies, are included in the will.  Assets pass to this trust through the provisions of the will.  Proper use of this trust can result in certain inheritance tax benefits to the estate.

For more information or a customized quote, contact a life specialist at 1.800.396.5993 or email us at