Last Will and Testament

Everyone should have a Last Will and Testament.

In order to protect your estate you must consider the following:
  • If you have children under the age of 18 years, a specific Trust is needed in your Will in order to protect your children so that their assets are not wasted.
  • If you have been divorced or remarried, specific Will provisions are needed to protect your children from a prior marriage.
  • Do you have a child with specific needs or disabilities? If so, a Supplemental Needs Trust might be appropriate for your estate to protect your child and your child’s assets.
  • When you have a Will, you must name an Executor of your estate. An Executor is the person, a fiduciary, who will administer the estate, retain the Probate Attorney, pay the decedent’s final bills and expenses, file the final income tax returns, and finally distribute the assets of the estate according to the terms of the Will. Advice from an experienced Probate Attorney will make the Executor’s job much easier.
  • If your Will contains a Trust, you must name a Trustee for the Trust. A Trustee is also a fiduciary whose function is to administer the Trust in behalf of the minor child, and invest the assets wisely and properly. When the minor reaches the age of adulthood (as shall be defined in the Will, but must be a minimum of age 18), then the Trust ends, and the Trustee distributes all of the assets from the Trust to the beneficiary child who now has become an adult.
  • If you have children under the age of 18 years old, you must name a Guardian for your children. A Guardian is the person or persons who will raise your children upon your death.

A Last Will and Testament should contain all this information.