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Keep your will in the same place you keep other important papers. Be sure to choose a safe place where someone else can find the will after your death. Someone you trust should know that the will exists and where it is located.

Some people keep their wills in safe-deposit boxes. Keep in mind that if the will contains provisions which must be known immediately upon your death, a safe-deposit box may not be the best place to keep it. This is because it may be time-consuming for someone whose name is not on the safe-deposit box to gain access to it.

Keep your will in the same place you keep other important papers. Be sure to choose a safe place where someone else can find the will after your death. Someone you trust should know that the will exists and where it is located.

Some people keep their wills in safe-deposit boxes. Keep in mind that if the will contains provisions which must be known immediately upon your death, a safe-deposit box may not be the best place to keep it. This is because it may be time-consuming for someone whose name is not on the safe-deposit box to gain access to it.

There is no restriction on leaving property to minor beneficiaries (persons under the age of 18), but the probate court may choose to appoint a guardian or conservator to hold and manage the inheritance until the children reach age 18. One reason for having a living trust is that you can provide for an inheritance to be held and managed for minor beneficiaries by persons you choose until the child turns 18 or any other later age. Often children are not ready to manage significant wealth when they are only 18 years old. The use of a pour-over will and a living trust eliminates the need to name minor children as beneficiaries in your last will.

Keep your will in the same place you keep other important papers. Be sure to choose a safe place where someone else can find the will after your death. Someone you trust should know that the will exists and where it is located.

Some people keep their wills in safe-deposit boxes. Keep in mind that if the will contains provisions which must be known immediately upon your death, a safe-deposit box may not be the best place to keep it. This is because it may be time-consuming for someone whose name is not on the safe-deposit box to gain access to it.

There is no restriction on leaving property to minor beneficiaries (persons under the age of 18), but the probate court may choose to appoint a guardian or conservator to hold and manage the inheritance until the children reach age 18. One reason for having a living trust is that you can provide for an inheritance to be held and managed for minor beneficiaries by persons you choose until the child turns 18 or any other later age. Often children are not ready to manage significant wealth when they are only 18 years old. The use of a pour-over will and a living trust eliminates the need to name minor children as beneficiaries in your last will.

Generally speaking, no. No one can inherit your unsecured debts after you die unless they were co-signed on the account with you (such as a credit card) or acted as your surety or personal guarantor (on a personal loan). If the debt is solely in your name, then no one is responsible for that debt besides you.

However, that does not mean the debt will not get paid. One of the duties of your executor or personal representative is to determine what debts you have. Your executor then uses the proceeds from your estate prior to distributing to your beneficiaries to pay those debts. If the debts are greater than your cash assets, then your non-cash assets are sold and used to pay as many debts as possible. If your debts exceed your assets, then your creditors take a loss (and of course, your beneficiaries get nothing).

The only exception is for secured debts (home loan, car loan, etc.), where a beneficiary may agree to take the asset subject to the debt and make the remaining payments on it. That is the only time a beneficiary will be liable for your debt - if they agree to it

You can be the trustee during your lifetime. Since all trust assets are held in the name of the trustee, this means you can continue to fully control all of your assets as long as you live and are not incapacitated.

You can be the trustee during your lifetime. Since all trust assets are held in the name of the trustee, this means you can continue to fully control all of your assets as long as you live and are not incapacitated.