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This is financial adviser, Patrick Munro, discussing types of wills. Wills are a very
key document, for every individual to partake in. It allows you to pass on your assets,
to your beneficiaries, at the time of your passing. There are different wills that are
involved, out there in the marketplace. Where there's life insurance involved, the most
notable will is called a pour-over will, and what that does, it allows the life insurance
to pass through the estate, directly to the beneficiaries,and it's an estate planning
document, that allows for the efficient delivery of those assets, to the family,without taxes
or probate intervention. Other individuals that don't have family members per se, can
have a charitable will, and a charitable will, will pass your assets on to an organization
or church, of your choosing. These particular wills are executed in the absence of family
members. Anything beyond that, would be classified as a trust, and there are special provisions
for a trust. This is Patrick Munro, discussing the different types of wills.