Wills are the most common way for people to state how their property and affairs should be distributed and handled after their deaths. A well-written will eases the transition for survivors by transferring property to whom the decedent intended, appointing an executor to handle the estate and taking care of other issues such as guardians for minor children. Wills vary from a basic document to more complex wills which may include a trust as well, depending on the es…

An estate is the real and/or personal property a person possesses at death. Estate planning is the process of planning a client’s intended distribution of his estate while minimizing any estate and/or gift taxes on his estate property. This process also includes analyzing whether it is in the client’s best interests to avoid probate or not. Probate is the process of administering an estate through the court system. Estate planning may involve preparing a Will, Trus…

A contract is a legally enforceable agreement between two or more parties (individuals or businesses), created when the parties reach an agreement on the duties, rights and obligations for each as well as the consideration to be paid or given to each party. A contract can be oral or written, however some are required to be in writing in order to be enforceable. The law of contracts covers a broad number of areas — including proper formation of a contract and appro…