If you are ready to begin writing your will, there are several things you need to know. Since this decision will have an impact on both you and your family’s future, it is not something you should rush into or try to do yourself. If you are beginning the will-writing process, here are some of the questions you may have:
Where do I begin?
The first thing you will need to do is determine who will draw up your will. There are many different options and will-writing kits out there, but almost all of them do not come with the peace of mind an experienced attorney can provide. If you choose to write your own will using a kit, there is a very good chance you are opening yourself up to several potential legal pitfalls. For example, even if you know what you are trying to say in your will, there is a good chance that if you misphrase one small detail, your wishes may not be carried out in the way you intended. This is why you may wish to consider hiring an experienced attorney you can trust to help you along the way.
What is an executor?
When you appoint an executor, you are giving someone–usually a spouse or child–the right to handle your finances after your death. It is your executor’s responsibility to ensure your wishes are carried out exactly as intended, so you must appoint somebody you trust.
What is a trustee?
You may appoint a trustee to manage your finances at the time of your death, especially if you are the sole living parent of a child who is younger than 18 years old. Your trustee will manage your investments, property, and money until your child is of the age to do so him or herself.
Why should I appoint a legal guardian?
If you are the last living parent of a child under the age of 18, you may wish to appoint a guardian to care for your child in the event of an untimely death. If you do not do so, the court may take this duty into their own hands, which could result in your child living with someone who may not have been your first choice, for one reason or another. However, if you consult with a potential guardian and they accept, you know your child will be in good hands, if necessary.
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Stone Crosby, P.C. has proudly served clients in Alabama for over 100 years. Our firm has experience handling matters including divorce and family law, estate planning and administration, business law, employment law, class actions, consumer protection, business law, real estate law, among many others. If you require quality legal representation, contact our firm today to schedule a consultation.