The attorneys at Randhawa Hundal LLP provide comprehensive estate planning services. One specific service we offer is assistance in the drafting of an individual or married couple’s will. It is important to consider a variety of factors when drafting one’s will. The attorneys at Randhawa Hundal LLP have numerous years of estate planning experience and have helped several individuals set up their respective estate plans.
What is a will?
A will is a legal document by which a person makes a disposition of his or her property – to take effect after the individual’s death. While people generally associate wills with only posthumous disposition, wills can also be used for a variety of other purposes. For example, a will can be used to (1) leave instructions on how an individual would like their remains disposed of, (2) provide for a guardian of minor children, (3) nominate an executor, and more.
What is the difference between a will and a trust?
A will should not be confused with a trust. A trust is a legal relationship between one person, usually called the “settlor” or “trustor”, and one or more persons, called “trustee(s)”, and “beneficiaries”. Trusts can be created during the lifetime of the trustor – an inter vivos or living trust – or after death – which is referred to as a testamentary trust. Therefore, a will may or may not create a trust.
What happens after I create a will?
A will can be modified, altered, or even revoked during the lifetime of the testator – the creator of the will. A will is intended to only operate upon the death of the testator. Therefore, until the death of the testator, the will can be freely modified and altered. A limitation on the ability to alter a will is upon the incapacity of the testator. If the testator no longer has capacity, then he or she cannot modify, alter, or revoke their will.
Randhawa Hundal LLP Offers Affordable Estate Planning Packages
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