Last Will & Testament

Your will declares how your property will be distributed upon your death. If you die without a will, §45a-437 of the Connecticut General Statutes directs the distribution of your estate to your spouse and/or blood relations and the probate court will not take your actual wishes into account.

A will is designed for the benefit and protection of your loved ones by directing the distribution of your solely held assets. For larger estates, a will can provide tax savings through the use of trusts within the will.

If you have minor children, a will can also provide for their protection. With the birth or adoption of a child, you are faced with many unique issues. Who will be their guardian? Who will provide for them in the event of your unexpected death or incapacity? Who will manage their money if you and your spouse die while the children are minors? These are critical estate planning concerns which must be addressed in your will.

By making a will, you can accomplish several important personal and financial objectives. Your will allows for you to accomplish the following:

• Protect your loved ones by making provisions to meet their present and future financial needs;
• Minimize estate taxes;
• Name an executor and a trustee who will ensure that your wishes are carried out;
• Name a guardian to raise your minor children;
• Establish trusts to manage the inherited assets of any beneficiary who may be a minor or is otherwise irresponsible;
• Establish a special needs trust to provide funds for a disabled family member to meet his or her special needs and maintain public benefits;
• Make sure your assets will be managed prudently (for example, by a professional trustee of a trust created in your will);
• Avoid the delays and added expense of “intestacy” (dying without a will) proceedings, such as hearings on the appointment of an administrator and the posting of a bond;
• Enjoy the peace of mind that comes with knowing that your loved ones will be taken care of according to your desires.

Dying without a will is called dying “intestate.” Should you die intestate, the probate court will choose an “administrator” to manage your estate, and if needed, a guardian for your minor children. The court may select individuals who you would not have selected.

Under these circumstances, your property will be distributed according to Connecticut’s intestacy laws. Any desires that you may have expressed during your lifetime will have no impact on the actual distribution of your estate. Furthermore, your minor children will automatically receive the inheritance outright at the age of majority, without the benefit of a trust. This may not be advisable, especially if your children are to receive a large inheritance and there are concerns about their ability to manage their finances.

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