Are you ready to write a last will and testament? A lot goes into this important document – consider these four simple questions before you get started.
1. Who do you want as the executor of your estate?
Every will must assign an executor to oversee the terms of the document in the case of death. An executor’s responsibilities include taking inventory of the deceased’s property, distributing belongings, paying taxes, and settling debts. The role of executor is a big responsibility, so make sure your executor of choice is willing to take the job.
2. What property do you want to include in the will, and who should inherit it?
When deciding what property to include in your will, list all of your significant assets. But if you’re married, keep in mind that each spouse should write his or her own will since you can only bequeath your share of the jointly-owned assets.
3. Who would you like to be the guardian of your children?
This is perhaps the most important question for parents to consider. Deciding who will care for your children after you’re gone isn’t an easy task. Remember to choose alternate or contingent guardians in case your first choice is unable to fulfill the role or does not survive you after death.
4. Who can manage your children’s property?
Whether you choose your children’s guardian or a third party, it’s important for an adult to manage your children’s property before they come of age.
Once you’ve answered these basic questions, contact KTF Law Firm to help you with critical estate planning. Placing emphasis on your individual situation, KTF Law Firm will work hard to make sure your last will and testament matches the decisions you’ve made.
From wills, trusts, and estates to construction contracts, zoning codes, and lending laws, KTF Law Firm, a Twin Cities law firm, provides expert guidance and personalized legal services.
Protect your loved ones for decades into the future. Contact KTF Law Firm and start the process of writing your will today.