![]() ![]() The appointed administrator is often not the same person who you would choose as your executor and may not always act in accordance with your wishes. Without a will, there is no executor, so a judge will appoint an administrator to preside over your estate. This is called being intestate, and different states have different intestacy laws. Adults who die without a will subject their property to disbursements made by a probate court in accordance with state law. While creating a will makes some people uncomfortable, procrastinating can be costly. In some states the executor is called a personal representative. The person you name in the will to manage your estate is called the executor. A will is a legal document that allows you (the testator) to assign someone to manage your estate after you die, declare who will become the guardian for your children and/or who will receive specific items or property from your estate. Let’s start with the basic definition of a will. However, probate laws governing wills vary from state to state, so it’s important to contact a local estate planning attorney to assist you with your specific situation. In this article, we cover nine basic considerations that are crucial to preparing a will. ![]() 1 Making a will isn’t a pleasant task to consider, but neglecting to put your wishes in writing can cause headaches for your family down the road.Įspecially today, with financial lives getting more and more complex, you need a well-executed will and other estate planning documents more than ever before. However, two out of five Americans over age of 45 don’t have one. ![]() When it comes to estate planning, a will is crucial. ![]()
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