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Information you will need to start your Will Marital Status and children Guardian Gifts Beneficiary Executor Trust Trustee Professional advice Costs Contact Us ______________________________________________________________ Information you will need to start your Will:
Personal Information 1. Please make sure that the names are the given names and not an alias or nickname. (example; Nicholas for Nick or Susan for Sue) 2. You need to answer the questions as they pertain to you now. If your marital status changes, you should prepare a new Will. When your status changes, your heirs change too. When listing your child(ren), include only child(ren) you have legal custody of (stepchildren and adopted children). Do not include child(ren) that are living with you but someone else has custody. 3. A Guardian is the person who will provide care for
your minor children. If you are married and share custody
with your 4. When giving gifts, (otherwise known as specific bequeaths) you will need the description of the gift to be given along with the given name of the person(s) or organization to receive the gift. It is important to remember that you may only give what you own. Examples of Gifts: 5. The Beneficiary of your Will receives the remainder of your estate. This is to say what is left after the gifts are removed and heirs take their shares given under the law. An example is your spouse and/or minor children have rights under the law, regardless of your Will. In your WillsFirst Will, your spouse and/or children will be named your Beneficiary. 6. An Executor is the person that will handle the administration part of your estate. When choosing an Executor, it is important to consider who is most likely to be able to carry out the instructions in your Will. You may choose one of your Beneficiaries to be your Executor. In your WillsFirst Will, your spouse will be named your first Executor. 7. When you are deciding how to provide for your children, you need to decide on how they are to receive your estate. In most cases children over 25 years of age receive their share outright. For children under the age of 25, a Trustee usually gives their shares over a number of years until the age of 25.
9. If it becomes necessary to seek the advice of a professional, please take the time to locate a competent individual. For legal advice, you can contact your State Bar Association. You should ask for references. Remember that bigger ads do not mean better service. 10. At the end of the information process, you will be asked for credit card information. This information can only be seen by the credit card company. Your credit card will be charged $8.95 for your Will. If you and your spouse do your wills together, you will be charged $13.50 for both. To receive both Wills for $13.50 you must select "Create Second Will", once you finish the first. 11. If you are not completely satisfied with your will, or if you have any questions or comments, please feel free to contact us at customerservice@willsfirst.com. |
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spouse
of your minor child(ren), your spouse will be named as
1st Guardian. A Will cannot take someone's
custody rights away from them. Example of this is that you
may not give custody to a third party if you and your spouse
are sharing custody. In most cases, the surviving spouse
will have custody. You will need to appoint a Guardian in
the event your spouse does not survive you. You may also
want to appoint a Guardian for your minor children that may
be unknown or unborn at this time. Aside from the moral
character of this person, they should be
financially able to provide care. It is always best
to discuss Guardianship with the people you are considering.
It is also important that you and your spouse appoint the
same Guardians.
8.
A Trustee is the person you have chosen to care for the
children's share until they have reached an age of
responsibility. Age of responsibility can be a numeric
number i.e. 25 or an age described in other terms. (i.e.
finished college with a degree)