lucky penny
Full time employment: Posting here.
- Joined
- Jan 23, 2010
- Messages
- 735
I'm doing a new will. I have a do-it-yourself version, but I decided it's time to get an expert involved & make sure it's done right. (I'm a lawyer & know the basics, but also know that one size does not fit all.) I met with a lawyer, who sent me a draft & now we're fine-tuning. I'm single & most of my estate will go to 5 siblings in equal amounts, with smaller amounts to nieces & nephews plus a couple of specific bequests.
Two questions:
#1 - How do you plan to divide your "stuff"? I'm giving each sibling a specific personal item, but what's the best way to divide the rest? I recognize that most probably ends up as junk, but there is some nice furniture, computers, jewelry & obviously lots of smaller items, some quite nice. I can envision that one sibling might swoop in & grab everything, so how to give others a chance to take what they might want? Siblings don't live near each other, or me; two are not well off financially; all have houses that are a lot larger than my NYC apartment. (Translation: they have room for more stuff.) Or basically, should I even care about this?
The draft will says everything gets divided as the siblings agree or, in the absence of agreement, as the executors determine.
#2 - I'm considering making two siblings co-executors but wonder if it's best to have a sole executor. Those two get along pretty well & I think would be reasonable, but has anyone had issues with co-executors? Too complicated to have both sign everything?
Any thoughts & suggestions are welcome.
Two questions:
#1 - How do you plan to divide your "stuff"? I'm giving each sibling a specific personal item, but what's the best way to divide the rest? I recognize that most probably ends up as junk, but there is some nice furniture, computers, jewelry & obviously lots of smaller items, some quite nice. I can envision that one sibling might swoop in & grab everything, so how to give others a chance to take what they might want? Siblings don't live near each other, or me; two are not well off financially; all have houses that are a lot larger than my NYC apartment. (Translation: they have room for more stuff.) Or basically, should I even care about this?
The draft will says everything gets divided as the siblings agree or, in the absence of agreement, as the executors determine.
#2 - I'm considering making two siblings co-executors but wonder if it's best to have a sole executor. Those two get along pretty well & I think would be reasonable, but has anyone had issues with co-executors? Too complicated to have both sign everything?
Any thoughts & suggestions are welcome.