An estate plan includes a number of important documents, and on the podcast, we’re taking a deep dive into these important elements. On the first episode of this series, we’re taking a deeper look at the first critical piece: your will. Shannon McNulty, NY Lawyer shares what parents need to understand about their wills. Though this document can feel stressful to create, there is peace of mind once it’s done, and if you unfortunately pass without one, then your loved ones may not be taken care of in the way you’d like.
What and Who Do You Need to Consider?
Shannon fills us in on what to include your will and the important people involved including who is the executor (the person who will oversee carrying out your wishes), who you designate as beneficiaries, and the extremely important task of choosing guardians for your kids (we’ll dig into this one more in an upcoming episode).
The nitty gritty details of your will
Shannon helps listeners understand the many details associated with wills including how you need to finalize the will with signatures, where you keep the original copy, and what the steps are when someone does pass. Though costs will vary in each situation and from state to state, she also helps us understand the initial investment that parents will need to make with this critical piece of their estate plan.
Resources mentioned
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