No one wants to think about who will inherit their assets after they have passed away. However, preparing a will before you pass is the best way to ensure your last wishes are fulfilled. We thought we would share details about the important roles you will nominate the people in your life for.
Executor- Selecting an executor for your will should take some consideration. This person should be organized and able to follow your last wishes to your exact description. They will also be in charge of distributing your personal property to your beneficiaries.
Beneficiaries- Many people name their family members as the beneficiaries. You can name specific people to inherit specific items such as land, jewelry, or anything sentimental. If you don’t have any living relatives, people often choose a charity or nonprofit to donate their assets once they are liquidated.
Guardians- This one applies if you have young children who will need someone to care for them in your absence. You should consider someone who is a close family member or friend who shares the same values as you do. After a loss of a parent, your child will want someone they know looking after them.
Even though we specialize in Chicago business law, we can help you with your will preparation. Give McQueeney & McQueeney LLC a call today at (708) 979-0614 and schedule a time to write your will.