Estate Planning Lawyers Will Help You Plan Your Will
Need to Make Your Will? Ohio Law Firm Can Help
Planning your will can be a daunting task, but the experienced estate planning lawyers at Manning & Manning, LLC in North Ridgeville, Ohio will help you organize your thoughts and information to ensure that your will accurately reflects your intentions. Here's a checklist to get you started:
List Debts You Owe
Make a list of the amount and type of debts you owe, including credit cards, mortgages, equity loans, car loans, student loans, personal debts, and medical bills. If you don't have enough cash in your accounts to cover these debts, consider which assets you would like your executor to sell first to cover your outstanding debts
List Debts Owed to You
Now list any debts owed to you by others, and consider whether you want these debts erased upon your death, or if you want your executor to collect these debts and add them to the value of your estate.
Consider who you would like to inherit any assets you may have left in your estate after all your debts have been paid. Besides immediate family, you might also want to consider friends, other relatives, and institutions or organizations that have made a positive contribution to your life. If you have specific items that you would like to go to certain people, determine that as well.
Name Executors and Guardians
Decide you would like to serve as the executor of your will. This person could be a family member who is experienced with finances, or a trusted banker or other type of businessperson. If you have minor children, determine who you would like to name as their guardian, and also consider naming an alternate executor and guardian in case your first choice is unable to serve at the time of your death.
Address Special Circumstances
Explain any special circumstances that you may need your executor to address, such as arrangements for a child who is no longer a minor but has special needs. If you would like to exclude someone from your will, specify that was well, and provide a statement explaining the reason so that your executor and the probate court will not assume that the person was excluded by mistake.
Need help planning your will? The attorneys at Manning & Manning, LLC pride themselves on providing personal service and individual attention. Contact them online or call 440-290-5970 to set up your free initial consultation today.