Estate plans are important for anyone with finances or assets, offering the most efficient way to take charge of the legacy you leave behind. A will is one of the primary estate plan documents that can help you divide your assets. Steve Butcher Sr., Esq. is a Rochester, New York, lawyer serving clients throughout Monroe County; below, he answers some frequently asked questions related to wills.
FAQs About Wills
Who Needs A Will?
Any individual over the age of 18 with finances, assets, or property can benefit from creating a will. You need not be wealthy or have an exhaustive list of financial interests. A will helps avoid potential disputes about your estate in the event of your death; also, if you have minor children, you can use a will to appoint a guardian.
What Is A Beneficiary?
A beneficiary is a person you name in your will who will inherit the assets you specify. A beneficiary can also be an organization or charity, like a church or nonprofit foundation, which you designate to receive certain assets. Naming beneficiaries ensures your estate is divided up in the ways you wish; without naming beneficiaries, the courts determine the fate of your estate.
What Is An Executor?
An executor is the individual you nominate to oversee the execution of your will. This is typically someone you trust, such as a close family member, friend, or lawyer. The executor serves as an estate administrator, contacting your beneficiaries and arranging the transfer of money, assets, and property after your death.
Can I Leave Provisions For My Pets In My Will?
For many of us, our pets are members of the family. Understandably, you want to make sure your pets are cared for and loved after you're gone, and a will allows you to make the necessary provisions to see that this happens. You can name who you'd like to care for them and leave money for their continued care.
To start creating a will today, contact lawyer Steve Butcher Sr., Esq. Call (585) 263-2444 or visit his firm on Facebook and Twitter for more information. A will can provide great peace of mind to both yourself and your loved ones; see how an estate planning lawyer can help.