Contrary to some myths, the State will not seize your property if you don't have a Will. The State has created some presumptions of who will get your property and who will be guardian of your children if there is no will. A will also provides you with the opportunity to make special gifts of property and better use tax deductions.

Should Probate Be Avoided?
Probate is the orderly process by which wealth and property is passed from one generation to the next. Often it is the simplest and least expensive alternative for many people. Whether it is a good choice for you depends on a careful review of your particular circumstances. Sometimes probate is a good idea and sometimes it is not.

How Else Can an Estate Be Distributed?
An Estate can be distributed through a Will, or a Trust or an Insurance Policies, Joint Tenancies and several other devices. You need a qualified professional to help plan things so they will be handled in the way you want.

Are Estate Taxes Costly?
To begin with, there is an unlimited marital deduction. That means that is that if the husband or wife dies, the surviving spouse gets everything without any estate tax. Congress is phasing out estate taxes so that these taxes apply this year only when the loved one has an estate worth more than $650,000 and $1 million in 2002. For estates on persons dying before the estate tax is eliminated, estate tax planning may be worthwhile.

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