DH and I rewrote our wills within the past few years and in the process learned that our CU offers an executing function for wills.
Honestly, having navigated closing out my dad's estate (and he died with virtually nothing to his name), it's not something I'd particularly want to ask anyone to do, not because there aren't people I trust but because it's a hassle and who wants to spend their time doing that? Not me. DH and I are executors for each other, but after that it's the CU (and none of our kids or siblings are ideal as executors -- the ones who are competent/knowledgeable are really busy and/or live far away, and the ones who are nearby and/or have time don't have the kinds of skills or temperaments that situates them well to be executors).
So -- if you have a CU, check with them (I think ours charges 3% of the value of the estate, though I may misremember that), and if not, with a bank/estate lawyer?
To @popoki's point, actuary tables put me outliving my DH by a long shot (it's the M/F difference plus he's more than a decade older than me), and I still wouldn't want him having to think about revising the will if I keel over. We both have "what if" executives (the CU) names in our wills.
Honestly, having navigated closing out my dad's estate (and he died with virtually nothing to his name), it's not something I'd particularly want to ask anyone to do, not because there aren't people I trust but because it's a hassle and who wants to spend their time doing that? Not me. DH and I are executors for each other, but after that it's the CU (and none of our kids or siblings are ideal as executors -- the ones who are competent/knowledgeable are really busy and/or live far away, and the ones who are nearby and/or have time don't have the kinds of skills or temperaments that situates them well to be executors).
So -- if you have a CU, check with them (I think ours charges 3% of the value of the estate, though I may misremember that), and if not, with a bank/estate lawyer?
To @popoki's point, actuary tables put me outliving my DH by a long shot (it's the M/F difference plus he's more than a decade older than me), and I still wouldn't want him having to think about revising the will if I keel over. We both have "what if" executives (the CU) names in our wills.
Statistics: Posted by bogart — Mon May 20, 2024 7:57 pm