QUESTIONS FOR SIMPLE* WILL DRAFTING

 

Your full name

Date of birth

Address

Marital status (2nd marriage?), name of spouse

Name of executor

Name of successor/substitute executor

Full names of all children

Dates of birth of children

Are you expecting any more children?

Upon your death do you wish to leave all your property to your spouse? If not, then to whom?

If this person dies before you, then whom do you wish to leave your property to (children)?

If your husband or children die with or before you, who do you want to leave your property to?

If your children are under the age of 18 whom do you want to be your children’s guardian?

Successor/Substitute-guardian?

Beneficiaries must attain age_____ (e.g. 18 or 21) to receive bequest (any age over 21 requires the creation of a trust)

Do you want the guardian to have to post bond with the court?

Bequest to heirs (if die, bequest would go back to the estate or heirs of heir). Most Wills provide that if you die without heirs, your estate is given to NYS. Should you not want this, you may want to consider naming a favorite charity or person.

Who should be the guardian of the children’s property, if different then their guardian?

Will real property be disposed of under the will? (Address of property)

Specific bequests? (Jewelry, cash or mementos)

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*Please note that a simple Will does not address estate tax issues. Accordingly, if your assets (including life insurance proceeds) may exceed the sum of $1,000,000.00 at the time of your passing and you are interested in reducing your estate taxes, you should consider having a more complex Will prepared which includes some form of estate planning.

Dena Orenstein and Zhanna S. Kandel are partners of the law firm of Orenstein & Kandel, LLP. with offices located on Northern Boulevard in Bayside. The firm specializes in real estate, foreclosure, bankruptcy and eviction matters, as well as business contracts and wills, trusts and estate planning. Tel. (718) 819-0200 www.oandklegal.com.