Wills

Legal-WillsThere are important, preliminary decisions that must be made in preparation for the completion of your will.

  1. Who will act as your Estate Trustee (formerly called Executor or Executrix) and Alternate Estate Trustee?
  2. How do you wish the assets of your estate to be distributed or divided?
  3. Are there any important items or heirlooms you may wish to make a gift of or a special provision for?
  4. Do you have any assets, such as investments, that will require specific planning or management?
  5. If you have children, who will be named as their guardian(s)?
  6. If anyone under the age of majority (18) becomes a beneficiary under you will, at what age do you wish that your bequest be granted to them?

Do I Need A Lawyer To Make A Will?
“Will Kits” are available in stationary stores and on-line, but they are basic and vague forms that may not be appropriate to deal with your particular estate requirements. Governmental agencies may have to assist with administering your will if your will is deemed inadequate posthumously. These agencies charge fees for their services and deplete the amount you wish to leave for your beneficiaries.

My Will Is 20 years old. Do I need a new one?
Some situations, like a marriage or divorce, will nullify a will. Perhaps your named Estate Trustee(s) can no longer act for you due to illness, relocation or other personal reasons. If your children are now grown, you may want to name one or more of them to act as your Estate Trustee. Generally, it is a good idea to review your situation and wishes with your lawyer if your circumstances have changed since last signing a will.

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