Any person who is over 18 years of age and either has children or any type of property should have a Will. The word “property” refers to either personal property, which may include bank accounts and/or brokerage accounts, or real estate. A Will gives you an opportunity to name an Executor who will be your successor and wind up with your affairs after you die. It also gives you an opportunity to name a Guardian of any minor children, and a Trustee to hold funds for the children until they reach a certain age.
There are many other situations under which you might want to provide for a Trust. Educations and taxes are two other important issues that can be dealt with in a Will. It is very important that you make these decisions and provide for them in your Will. If you do not do so, the Law will make them for you and they may not be what you want.
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