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What should you consider when choosing a Trustee for your will?

What should you consider when choosing a Trustee for your will?

Full question:

I am filling out my will. I am divorced with shared custody of two minor children. I have asked my cousin to be my personal representative. Because my children are minors I need to designate a trustee. I don't know who that should be? Can it be the same person who is my personal rep or does it have to be an entity like a bank? If my assets are held in trust, who is the trust? As you can see I'm very confused on this issue and need some guidance. I have very few relatives and my parents are in their 80's.

Category: Wills and Estates
Date: 04/07/2025
State: Florida

Answer:

Please see the information and forms at the following links:

http://definitions.uslegal.com/t/trusts/

http://definitions.uslegal.com/t/trustee/

http://definitions.uslegal.com/w/wills/

http://lawdigest.uslegal.com/wills-and-estates/wills/7127/

http://lawdigest.uslegal.com/wills-and-estates/last-will-and-testament-law/1166/

http://www.uslegalforms.com/us/US-006HB.htm

This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.

FAQs

What if my brother won't give me my inheritance?

If your brother refuses to give you your inheritance, you may need to review the will and any relevant estate documents. If you are a named beneficiary, you have legal rights to your inheritance. You can consider discussing the issue with him directly. If that doesn't resolve the matter, you may need to consult an attorney to explore your options, which could include mediation or legal action to enforce your rights. Keep in mind that laws regarding inheritance can vary by state.

Can siblings be left out of the will?

Yes, siblings can be left out of a will. In most states, a testator (the person making the will) has the right to decide who inherits their assets. However, if a sibling is omitted, they may have grounds to contest the will if they can prove they were intentionally excluded or if they believe the will does not reflect the testator's true wishes. It's best to consult with an attorney if you have concerns about being left out.

Can relatives ignore a will?

Relatives cannot legally ignore a will once it has been probated. The probate process ensures that the deceased's wishes are honored and that assets are distributed according to the will. However, relatives may contest the will if they believe there are valid grounds, such as lack of capacity or undue influence. If you suspect that a will is not being followed, consult an attorney for advice on your options.

What are the new inheritance laws in Texas?

Texas has specific laws regarding inheritance, but changes can occur. Generally, Texas law allows individuals to leave their assets to anyone they choose through a will. However, recent changes may affect how certain assets are treated, especially regarding community property and spousal rights. For the latest updates on inheritance laws in Texas, it's advisable to consult with an estate planning attorney who is knowledgeable about current regulations.

Who cannot be disinherited?

In many states, a spouse cannot be completely disinherited unless they waive their rights. Children also have certain protections; for example, in some states, if a child is omitted from a will, they may still be entitled to a portion of the estate. Laws vary by state, so it's essential to consult an attorney to understand the specific rules in your jurisdiction regarding disinheritance.

Can an executor decide who gets what if there is no will?

If there is no will, the executor does not have the authority to decide who gets what. Instead, the estate will be distributed according to state intestacy laws, which dictate how assets are divided among heirs. The executor's role is to manage the estate and ensure that assets are distributed according to these laws. If you have questions about the distribution process, consulting with an estate attorney can provide clarity.