A Will has a few important roles to be appointed.
1. The testator is the person creating the will. They must be of sound mind and be at least 18 years old.
2. The executor is a trusted individual responsible for administering the estate according to the testator's wishes.
3. The guardian is responsible for any minor children's well-being, including their financial, educational, and emotional needs.
A Will can control various assets after your death.
1. Personal property can be given to friends and family by including a Personal Property Memorandum.
2. Certain assets like life insurance or a 401(k) can have a designated beneficiary and bypass the Will and probate process.
3. The remaining assets (called the residuary estate) can go to the beneficiaries of your choosing.
A Will is home to your wishes and a designed legacy.
1. Preferences for your funeral or memorial service, including things like location, intent, and even music.
2. Plans for your final resting place, including preferences for cremation, burial, or other options.
3. Charities and non-profits can be included to design a lasting legacy for causes that you care most about.