Can a Will save me money?
Yes. A properly drafted Will can save your estate money in many areas. First, a Will can save your estate money because it enables you to appoint an executor and therefore allows your estate to be probated through the Surrogate’s Office, as opposed to a potentially expensive court action to have an administrator appointed by the court.
Second, a properly-drafted Last Will and Testament can help save your estate taxes. Third, a Will can waive the requirement that your executor or administrator post and renew a bond until the estate is fully administered. If a bond does not have to be purchased, your estate will have more money to pass along to your loved ones.
NOTE: This page is for general information only and is not to be solely relied upon. Contact a Toms River attorney at the Law Offices of Apicelli, Costanzo & Russom today if you have specific inquiries.