What Is a Will?
A Last Will and Testament becomes effective only after the person who signed it has died. Once the Will is filed and the Estate is opened, the person you nominate to the “Personal Representative” (aka Executor) who will represent your Estate before the Register of Wills in the county in which you resided (Administrative Probate) or the to the Orphans Court in that County (Judicial Probate). The Personal Representative will seek permission to distribute your assets as requested in your Will.
A Last Will and Testament can also name the people that you would like to be Guardians of your Minor Children, and you can name a Trustee to handle the assets for your children to ensure that they are properly cared in the case of a catastrophic event.
Fee: Mr. Wittstadt is transparent with his fee structure. He charges $500.00 per person ($1000.00 for a married couple) to prepare a Simple Will. Many, but not all clients need a Simple Will. To add guardianship nomination and a “Testamentary trust” in your Will, there is an added fee of $250.00. (Included in that fee is an Advanced Directive and a Legal Power of Attorney.)