What Do Wills Mean In Estate Planning?

What Do Wills Mean In Estate Planning?

A written document that contains instructions for the disposal of assets at a person’s death.  This is filed and enforced through a probate process, sometimes involving the probate court.  Laws vary by state.

Holographic Will

A will that is partially or fully handwritten.  Not all states recognize holographic wills.

Pour-over Will

Used together with a revocable trust to “pour” any assets that were not in a decedent’s trust at the time of death over to the trust.

Example Of Wills In Regards To Estate Planning

My dad signed a will that excluded my brother, left me only part of his estate and left a ton to charity.  I’m sad I didn’t get more, but I’m glad he was able to exclude people he had problems with and give to a charity he loved.