Creating an estate plan with minor children in mind has a host of variables quite different than one where all heirs are adults. If the intention is for the minor children to be beneficiaries, or if there is a remote chance a minor child might become an unintended beneficiary, different provisions will be needed. An … Continue reading Estate Planning Considerations for Minor Children
Category: Testator
What Exactly Does an Executor Do?
The executor is usually a spouse, close family member or trusted friend. If no such person is available, a qualified compensated person can be appointed under state law, according to an article from The Street entitled “Top Duties of an Estate Executor and How to Carry Them Out.” The executor needs to be trustworthy and organized, since there … Continue reading What Exactly Does an Executor Do?
What Does a Last Will and Testament Do?
Your will is the foundation of an estate plan, used to instruct your executor on distributing property, naming a guardian for minor children, creating a legacy and ensuring that your beneficiaries receive what you want. The will can also serve to disinherit a family member, as explained in the article “Last will can both include and … Continue reading What Does a Last Will and Testament Do?