By Lindsay Chin
Estate Planning involves creating a will. A will describes several things such as who you are, what right you have to give away property, a description of the property, and exactly who you want it to be distributed to. It is a legal document that sets out your wishes for the distribution of your assets after death. About 66% of United States citizen die without a will. When a person dies without a will your estate may end up in the hands of the government. Wills can be particularly important if you want to benefit a charity, parents, or friends. In 2009 a married couple can leave $7 million to their children tax-free. A qualified estate-planning attorney is recommended but not always required to create a will. It is important to understand what can make a will invalid. Improper execution, the grantor not being mentally competent or able to under what they were doing when they executed the will, and if the will was made under duress or as a result of undue influence from another person will cause a will to be invalid. The most common mistake is oversight. Thus someone not involved with creating them should review wills occasionally. This way by checking them often, in case anything happens, they can be assured their assets will go where they want.
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