What is the name of your state? California
I am a 55 yr old widow, a teacher, and have a 17 yr old daughter. I want to have my will drawn up asap and make sure that my daughter is taken care of when I pass away. I have a very dear friend who is a paralegal but also completed law school. However, she has not yet passed the bar but is quite capable of drawing up this document for me. I also want her to be the executor/trustee (not sure the correct term) of my estate, which would involve all the usual paying off my debts as well as being in control of the monies to go to my daughter. My retirement monies (STRS) will go to my daughter (she's the beneficiary). I also own a home and have other assets but nothing "liquid". The details of all of this will be worked out as it is written. My only question is this: how much should I include in will to pay my friend for taking on this responsibility? If you appoint a family member to be the executor, I dont think one normally pays them for this "job", I'm not sure. But in my case, this is a friend and a professional and I am asking her to undertake a big responsibility. I have no idea how much I should include in my will to go to her for this. I am not financially that well off,ie not much of my estate would be "liquid", but I do own my home and then my STRS and a modest (so far) tax shelter. What would one pay a lawyer to have this responsibility? thank you.