Content Overview
- Summary
- What To Think About If You Want To Leave People Specific Assets
- Information to Gather To Prepare For Writing A Will
- How To Decide Who Your Beneficiaries Will Be And What Each Will Receive
- How To Choose A Personal Representative/Executor/Personal Administrator
- A Few Things To Think About If You Have Minor Children
- What To Do If You Want Your Heirs To Divide Your Personal Property Among Themselves
- What To Consider If You Are Leaving Property To Charity
- What To Consider If You Want to Disinherit A Spouse Or Child
- Considerations If You Are In A Second Marriage
- What To Do If Your Estate Is Larger Than The Estate Tax Exemption.
How To Prepare To Write A Will
How To Choose A Personal Representative/Executor/Personal Administrator
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Your Personal Representative is the person who will gather your assets, administer them as required, and distribute your assets.
There can be more than one Personal Representative. If you use more t han one person, it is advisable to include a provision in your Will about how decisions are made. For instance: "All decisions to be made by my Personal Representative shall require the approval of both of them."
In addition to a named Personal Representative, it is advisable to name one or more substitutes in case the person you name dies before you, doesn't qualify, or stops acting in the role.
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Choosing A Personal Representative/Executor
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