A person writes a will while still alive and its instructions are only carried out once the individual dies. A will name a still-living person as the executor of the estate, and that person is responsible for administering the estate. The probate court usually supervises the executor to ensure that h the wishes specified in the will are carried out.
A will and last testament forms the foundation of an estate plan and is the key instrument used to ensure that the estate is settled in the manner desired by the deceased. While there can be more to an estate plan than just a will, it is the presiding document the probate court uses to guide the process of settling an estate.
Any assets not already designated by a beneficiary, such as a life insurance policy or qualified retirement plan, are not included as probate assets and pass directly to the beneficiaries.
Specifically, a will and last testament instruct the court in the disposition of all assets, including who is to receive them and in what amount. It establishes guardian arrangements for surviving dependents and accounts for any special circumstances, which may include the care of a special-needs child or an ageing parent.
