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A Will may be the estate planning document most familiar to you: Movies and works of fiction all dramatize the formal "reading of the Will" by the decedent's attorneys. With the more common use of Trusts as the primary asset management and distribution tool in mid-size and larger estate, the Will often takes a more secondary role in asset distribution. However, in small-sized estates, a Will alone may be the appropriate estate planning vehicle to transfer assets from one person to another. Additionally, even in cases where a Trust is used to manage and distribute assets, a specialized "pour-over" Will is still created and used in conjunction with the Trust. A "pour-over" Will acts as a figurative large net, scooping up all assets that are outside of the Trust and transferring them to the Trust at the person's death so that they too are distributed according to the terms of the Trust. Finally, a Will is also a critical document for couples with minor children (i.e., children under the age of 18), as proposed guardians for children are named in a Will. As part of the creation of a comprehensive estate plan for you, the compassionate, experienced attorneys at the Law Office of Jim Eimers will meet with you to assess what type of Will is most appropriate for you and your situation.
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