WILLS

There are two basic types of Wills that we employ here at Anderson Estate Law- the “stand-alone Will” and the “pour-over Will.” The stand-alone Will works without a corresponding trust. It is the only document stating your wishes for the disposition of your assets, appointing the Executor of your estate and often appointing guardians for your minor children. The stand-alone Will is in essence a letter to a judge, because the estates of those who pass away with only a Will or with nothing at all must go through probate. We recommend stand-alone Wills only to those with estates with a gross value of under $100,000.

The other type of Will- the pour-over Will- is a document that is created to work in conjunction with a revocable living trust. The pour-over Will lists the revocable living trust as the beneficiary of the estate assets and acts only as a “safety net” to ensure that any assets not properly funded into the trust prior to the death of the Settlor are brought into the trust following the Settlor’s death. The terms for disposition are then found in the revocable living trust.