So, how else does a last will differ, and to what extent? Below are four ways in which it “goes the extra mile.”
One, it lets its drawers to appoint executors. These are appointed and trusted persons that the last will writer appoints to execute their wishes after their death. They have several responsibilities, including filing the last will and testament template with probate courts in specified towns or counties where the deceased lived. They also manage the deceased’s property by paying off any debts, bills, and taxes to ensure their estate is in order before distributing the assets.
Two, this will and testament lets you name a guardian or guardians if you leave behind minor heirs. They assist them as they grow until they reach a legal age to inherit your estate. Therefore, you should include the guardian’s or guardians’ names in the will to obligate them legally to do their job.
A guardian is also necessary if your chosen inheritor has special needs. However, you should also get their permission to include them in the will. Otherwise, their inclusion will be legally null and void.
Three, your Washington last will and testament lets you name your estate’s inheritors. When you fail to document the last will, you automatically allow the government to share your wealth among your relatives. The state takes your property in rare cases where you have no known or surviving relative. The problem here is that if you wished any of your ‘closer-than-a-brother’ friends to inherit your estate, the law automatically locks them out. Moreover, any noble intention to donate some of your wealth to charity is excluded from the inheritance equation.
Four, all last wills and testaments in Washington require legal help to make them legally binding and secure. The law allows you to create different trusts to cater to various needs. For instance, it allows you to create a family business succession trust to advance your business dynasty if you run family businesses. This way, you maintain your business within your family without any undue wrangles among your beloved ones. You can also create education trusts for your schooling children.
Moreover, a well-documented last will and testament is a beneficial tool for addressing challenges that could face estate planning in cases, such as blended families and remarriages.