What are the Purposes of Wills?
Wills are legal documents, drafted and executed in accordance with Massachusetts law. When someone dies with a will they are said to have died “testate”. If there is no will, then that person is said to have died “intestate”. Wills allow you to name: • YOUR BENEFICIARIES: These are family members, friends, or charities who you want to receive your assets. You may provide for “specific gifts” such as jewelry or a specific sum of money to specific beneficiaries. You should also provide for the distribution of the “residue” (or residuary) of your estateyour remaining assets which are not specifically given to beneficiaries in your Will. If you do not have a Will, then the Massachusetts Intestate Laws (also called the “Intestacy Statute”) specifies who receives your property. • A GUARDIAN FOR YOUR MINOR CHILDREN: You may nominate a person who will have the responsibility to care for your child if you and your spouse die before the child attains 18 years of age. • AN EXECUTOR: This person n
