Free Will for Parents of Adult Children

This Will is appropriate for a single or married person with adult children. This document does not include any provisions necessary for minor children.

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How to write your Will for Parents of Adult Children

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Reasons to Create

- You own property to be distributed after your death.
- You want to name persons or organizations that will receive your property after your death.
- You want to name someone to carry out the terms of the Will.

NOTE: If your estate is expected to be larger than $3,500,000, federal estate taxes may apply. It is recommended that you consult a lawyer in coordination with creating your estate plan.

Before You Begin

Information you may need:
- Name and address of the person who is creating the Will.
- Names and addresses of the Beneficiaries, the persons or organizations who will receive the property.
- Name and address of the Executor, the person or organization who will carry out the terms of the Will.
- A list of bequests, that is gifts that will be distributed, and the names and addresses of the persons and/or organizations who will receive them.
* Information regarding the value of your estate, including the value of all assets plus life insurance proceeds.

Reasons to Update

- A change in marital status.
- The birth or adoption of children. A new will with provisions for minor children should be created.
- A move to another state.
- A significant change in financial status.
- A significant change in tax laws.
- The death of a beneficiary. For example, your spouse.
* A desire to add or change beneficiaries.
* The death or incapacity of a named executor.

Document Help

Will for Parents of Adult Children

This Will is appropriate for people who are married or single and wish to provide for their adult children. It does not contain any provisions necessary for minor children.

If at death, your estate (including life insurance proceeds) is expected to be larger than the federal estate tax applicable exclusion amount ($3,500,000), it may be desirable to use more complete estate planning techniques that are not provided by this Will. For such cases, this Will can be used to prepare for working with a lawyer who can assist you with the preparation of a more complex will.

Note: A separate Will should be created for each person. Even for married couples, a "joint will" (not offered by this program) is not recommended.

For More Information:

What is a Will?
Components of Your Estate
Not Married Statement
Executors
Naming Beneficiaries
Disinheriting People
Specific Bequests
Residuary Estate
Estate Taxes
Trust vs. Will Comparison
Signing Instructions
TOPIC INDEX


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