If my husband and I want to write a Will, where do we start?
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If my husband and I want to write a Will, where do we start?
We are going on a 4 week pilgrimage trip leaving our kids at my sister’s place. We want to write our Will keeping my sister’s or brother’s family as guardians/trustees of our property/children. I am newbie in this subject. What is the procedure and who is the right person to consult? Should we speak to an estate planning attorney? In Philadelphia, PA.
Asked on September 27, 2010 under Estate Planning, Pennsylvania
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 13 years ago | Contributor
You are very wise to think about this all before you go. Yes, an estate planning attorney is the proper one to discuss the issues here. You will want to discuss the possibility of creating a trust for the benefit of your children and having your assets placed in to the trust with a trustee named. You may want to be specific as to the trustees abilities to invade the trust (ie., for educational purposes, etc.) or leave it general. You amy want to make sure that there is a life insurance policy in place for you and your husband to help fund the trust as well. You will want to name guardians for your children. Sometimes having a guardian for the children and a separate person in charge of the financial side is a good idea. Good luck.
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