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People often choose someone that they are close to and that they trust, such as a spouse or one of their children, to fill this role. The person who is the Executor may be named as a beneficiary in the Will.
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The main requirements of an Executor are that they are an adult 18 years or older and that they have not been convicted of a felony. The Executor is in charge of making sure that the people the Testator has named as beneficiaries get the portion of the estate described by the Testator. The Executor fills the important role of carrying out the Testator's wishes concerning the legal and financial matters of the estate. The Testator must appoint an Executor in their Will. This way, a Judge can be sure that the Testator meant to disinherit a child and did not mistakenly overlook them in their Will. All children should be included in the family description, even if the Testator does not plan to leave them anything in the Will. This Will also includes a provision so that the Testator's future children, if any, are covered by the terms of this Will. For the purposes of a Will, children include both those that were born to the Testator as well as those that have been legally adopted by the Testator. The Testator should note whether they are married and, if so, the name of their spouse, as well as whether they have any children. There are several major decisions that the testator must make to accomplish this task. Use this document to explain how the Testator's estate should be distributed among the people they name. Being of sound mind means that the Testator is aware of what they are signing, know the general nature and amount of property they own, and know the relatives or descendants that would usually be expected to share in the estate. In order to make a Will, the Testator must be at least 18 years old and of sound mind.
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People often create a new Will or update their existing Will for the following reasons: Creating a Will as a part of an estate plan ensures the person making the will, known as the Testator, will have their wishes followed and that the people closest to them are taken care of. A Last Will and Testament is a legal document that details how a person's assets and property will be distributed after their death.