It can be a struggle for the entire family when a loved one starts to…
Naming of Close Family Members
The beginning of the will is where the decedent lists close family members. This portion doesn’t leave any doubt in anyone’s mind that if a person is not going to be receiving any property from the estate, it was intentional.
Naming the Executor
The next to be named will be the executor, and it may require that the executor post a bond. The bond protects the estate against the possibility that the executor steals the estate’s funds.
Listing Specific Gifts
The decedent may have wanted specific gifts to go to specific people. This is where those gifts will be listed. In most cases, people don’t leave specific gifts to others. They either leave everything to one person, or they leave everything to several people to split equally.
Gifts of Personal Effects or Personal Property
Personal effects are property that the decedent wore or carried, and personal property is any property other than real estate.
People don’t usually do this, but sometimes, they will leave property with conditions attached. This type of provision is a major headache for the executor. The remedy would be for the beneficiaries to come to an agreement on how to implement the decedent’s wishes.
The decedent can give money that doesn’t come from any particular source to people as a “general” gift or a legacy.
Residual gifts are listed after the general and specific gifts have all been named. It is common for this section to be left blank.
The best thing to do is hire the Law Offices of Faloni & Associates to help you figure everything out. We are King of Prussia estate planning lawyers with the ability to straighten out all of the difficulties in which people often find themselves after a loved one has died. An estate planning attorney in King of Prussia can also help you create your own will. King of Prussia estate planning will ensure that your will distributes your property in exactly the manner you wish it to be distributed.