I went to an attorney to have my will prepared. I need to give the attorney names for trustee and executor. There is no one in my family I will name for this, and hate to burden a friend with the responsibility. The lawyer said I could name a bank or attorney as trustee/executor.
I don't really understand what the executor and trustee have to actually do? I know that when my mom died, dealing with the house and personal belongings was (IS) a very labor-intensive process.
Basically I want all assets put in trust for someone if I should predecease him (which is unlikely). If he predeceases me, then everything, including proceeds from real estate, goes to a 501(c)3. How can a bank or a lawyer deal with disposing of my house and personal stuff and pets?
I know I should ask the attorney these questions, but she keeps circling back to my family members, and I have already told her no and I am firm about that. I get a distinct feeling she's bored with explaining basic fundamentals and just wants me to "give her a name" so she can pop the variables into a form and have me sign it and bill me.
I really don't want to burden a friend with this stuff when I die, but I don't understand the mechanics of how a bank or law firm would handle my personal stuff.
Can anyone help me understand this? Yes, I know I should change attorneys, but I don't want to spend more $ starting over since I'm gonna get a bill for the time I already spent with her.
I don't really understand what the executor and trustee have to actually do? I know that when my mom died, dealing with the house and personal belongings was (IS) a very labor-intensive process.
Basically I want all assets put in trust for someone if I should predecease him (which is unlikely). If he predeceases me, then everything, including proceeds from real estate, goes to a 501(c)3. How can a bank or a lawyer deal with disposing of my house and personal stuff and pets?
I know I should ask the attorney these questions, but she keeps circling back to my family members, and I have already told her no and I am firm about that. I get a distinct feeling she's bored with explaining basic fundamentals and just wants me to "give her a name" so she can pop the variables into a form and have me sign it and bill me.
I really don't want to burden a friend with this stuff when I die, but I don't understand the mechanics of how a bank or law firm would handle my personal stuff.
Can anyone help me understand this? Yes, I know I should change attorneys, but I don't want to spend more $ starting over since I'm gonna get a bill for the time I already spent with her.