LAst will and Testament

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A Last Will and Testament is a document that directs how you want your assets to be distributed upon your death. A Personal Representative or Executor is appointed in the Will to manage the estate and, if necessary, represent the estate if it needs to go through the court process Probate. Assets can avoid the Probate process with a Will providing the assets do not exceed the probate limits of $100,000 for real estate and $75,000 for personal assets and “pay on death” and “transfer on death” provisions have been included for financial accounts.