The building block of any estate plan is an appropriate Last Will and Testament, often referred to as a "Will".  A Will establishes how property interests owned in the decent's name alone will be handled after the decedent's death.  The requirements for a valid Will vary somewhat  by the various state laws.  A Will also allows the naming of a persson who will administer a person's assets and estate after death.  That person is known as an executor.  Wills often contain trust provisions allowing for longer term management of assets for children and/or beneficiaries with disabilities as well as for other reasons.  Estate Planning involves advising to minimize death taxes, and structuring to protect and approximately administer assets.


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