Establishes trusts per instructions in your will. Prepares final accounting. Disposes of your property according to your instructions. A will becomes public at death, and is available for anyone who wishes to see it. Your will should be explicit enough to prevent any misunderstandings among heirs.
Many individuals choose to treat their estate as a whole and divide it by percentages.
You may be able to create various types of trusts that will protect assets, provide income to heirs, reduce or eliminate estate taxes, or relieve a surviving spouse of the problems of managing investments. You should consult an attorney if you are considering establishing trusts through your will or any other vehicle. The Idaho State University Foundation receives bequests from individuals with large and small estates. Individuals with families often provide for their charitable interests through their will after providing adequately for their children. A gift to create a lasting legacy is an important part of estate planning for most individuals.