If you’re happy with it all going to your spouse, that’s fine. Drill down and decide who gets (or takes care of) what. Who do you want to get your stuff? Think about your spouse, your children and your extended family. This will help your executor (the person who carries out the wishes in your will) when it’s time to distribute your assets (aka your stuff) and save your family from unnecessary stress. (If you have stuff, you have an estate.) Go ahead and pull together the paperwork for your home and any other real estate you own, along with life insurance policies and bank and retirement accounts.ĭo you have a car, beloved pet Fido, or rare book collection you want to go to a specific person? Include it in your will. It’s time to think specifically about your belongings, savings and estate. You’ll want to have backups in mind for each of those positions in case the person you choose is unwilling or unable to do it.īeing prepared with this information ensures you can confidently create a Will that protects your family and ultimately gives you peace of mind.How to Make a Will 1. It’s a good idea to make sure that the people you name in your Will are willing to take on those responsibilities. The Executor will be in charge of managing the assets of your Estate during the probate process, paying any creditors who are owed, and distributing the assets to your beneficiaries. An executor, also called a Personal Representative, will probably be a person, but in some cases can be a company. Who should be your executor?įinally, you’ll choose someone to act as your Executor. Note that these can be two separate people – it’s not required to have the same person be the Trustee and Guardian. They will use the assets from your Trust to care for them. Who should be guardian for your children?Ī Guardian (who can be the same person as your Trustee) will be the person who physically takes care of your children until they turn 18. For example, if you want your children to receive half of your assets at age 18 and the other half at age 25, the Trustee will handle that. They will handle the financial aspects of your Trust.
Who should be Trustee for your minor children?Ī Trustee is the person who will give your assets to your children at the ages you specify. You’ll also have two other things to think about if you have minor children – Trustees and Guardians. This protects your assets from Probate court and sets a specific plan for how and when your children will receive your assets. If you have children under the age of 18 it’s a great idea to create a Trust, also known as a Minor Children Will.
Either way, it’s a good idea to take an assessment of everything you own and determine how you want it divided. The next question you’ll want to ask yourself is, “What are my assets?” More importantly, do you have any assets that you would like to leave to specific people? You can choose to simply leave everything you own to one or multiple people OR you can choose to leave specific items to certain people. What assets do you own and who do you want to leave them to? If you are married or have children, you’ll be asked for full, legal names, including middle names. You’ll also be asked for your county and state that you currently reside. You’ll first be asked to enter information about you and your family. Before you get started creating your Will, it’s a good idea to have a few things in mind so you won’t be caught off guard when certain information is required.
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