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“Wills speak at the time of death”. This is a very old saying, but still so applicable today! Your will is your voice after you die. Your last will and testament is a legal document in which you can express how you want your property to be distributed after your death, who you want to be in charge of said distribution and who will take care of your kids. In a will, you can also provide for your pets, your great grandmother’s silverware, your coin collection, your antiques and anything else you want to end in a certain person’s possession.

If you die without a will, you are said to have died intestate. In that case the law of the state in which your property is located will determine the way your property will be distributed after your death, regardless of what your wishes were. If you want to have a word on who is going to get what from the property you leave behind, you must have a will. A simple will is the only way you can control what is going to happen with all your affairs after you die.

The Disclaimer Will is a standard Will with a trust provision that a surviving spouse can elect to utilize if the surviving spouse believes that his or her estate could be subject to federal estate tax upon his or her death. The Disclaimer Will typically provides for an outright marital deduction bequest of the entire residuary estate to the surviving spouse, and will further provide that if the surviving spouse wishes to disclaim the bequest (in whole or in part), the disclaimed property will be passed into a trust for the benefit of the surviving spouse. The trust will shelter the exemption equivalent of $3.5 million (for 2009) or $1 million (in 2011) from estate tax. This can lead to a huge estate tax savings.

You can purchase kits that provide help and advice about writing your Will. They normally give the basic legal requirements and some help on the various things that you need to bear in mind. Crucially, they also include a template or form that you can complete. This makes things very easy but would probably only suffice for people who have relatively straightforward affairs. These might not be sufficient if you have children or more complex matters. They are probably not going to be a great deal of help if you want to reduce tax liabilities either. Would you like to deal with a real person and get answers to your questions? Then read the two further alternatives.

If, however, Harry and Wendy set up disclaimer Wills and Harry dies first, Wendy can elect to “disclaim” her interest in some or all of the $1.5 million estate. If she disclaims $500,000.00, the disclaimed amount of $500,000.00 would automatically be placed in trust for Wendy’s benefit. Upon Wendy’s death, her $1 million estate would pass tax-free to the children through her lifetime exemption and the trust amount of $500,000.00 would also pass tax-free to the children. Therefore, the net estate passing to the children is $1,500,000.00.

The other alternative is to use a legal expert who specialises in Will Drafting. They may not be a solicitor, though. There are a large number of such companies and they are known as Will Writing Firms. They are not new, either. They have been in existence for a long time. They have the advantage of being very expert and so can answer all of your questions. Will Writing Firms are able to produce your legal document to a very professional standard. You may also find that they are more convenient, too, because they will often visit you at home or even deal with the matter by telephone. One more point to consider is that they are cheaper than a lawyer, too. The main question is how to go about finding one that you can trust

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