September Topic of the Month: The Importance of Estate Planning and Having a Will

What is an Estate?  It refers to all the property owned by a person, including real estate, personal belongings, and financial assets.  It is basically everything a person owns individually at the time of their death.  The estate can be subject to probate, which is a legal process to distribute the assets according to a will if one was in effect.

One of the most important documents you can have is a Will which is a legal document; not only does it help to give your family peace once you’re gone, but it will also help them know exactly what your wishes are for your estate.  There will be a named executor or executrix that will be trusted to fulfill the deceased intentions. 

It is best to meet with an attorney or lawyer that does Estate Planning and Wills to make sure you have everything in place for your loved ones.

LPL Financial does not provide legal advice or services.