Estate planningWills |  |
A Will is a legal document that specifies who will get
your property when you die. It names the people you want to settle
your estate and administer any trusts you have established as part
of your Will. It also names the individuals you want to care for
any children you may have.
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By executing a Will, you maintain some control over the
disposition of your property after your death. Generally estates
can be settled faster, easier and with less expense with a Will
than without one. If you have a large estate, drawing up a Will in
combination with one or more trusts can help limit the tax
liability of your estate.
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Executed properly, a Will also can enable you to transfer
property and investments to your heirs. Wills requiring complex
estate planning strategies, including trusts, are best prepared
with the help of your lawyer.
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If you die intestate, or without a Will, you will lose
control over your estate. Although your property will most likely
go to your spouse and children in this case, different states have
different ways of dividing estates which may affect the outcome.
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If you are creating a financial or estate plan, it makes
sense to establish a Will as part of the planning process.
Assistance from a lawyer familiar with Wills and estate planning
is considered the best way; in fact, some states require it. In
any case, your Will must include your signature and those of two
or more people who witness your signing of the document. Witnesses
cannot be beneficiaries of your Will.
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Securities offered through Lincoln Financial Advisors
Corp., a broker/dealer. Advisory services offered through Lincoln
Financial Advisors Corp., a registered investment advisor, or
Sagemark Consulting, a division of Lincoln Financial Advisors
Corp. Insurance offered through Lincoln affiliates and other fine
companies. |
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