Who should be included in an estate plan?

An estate plan is a legal document that spells out how a person wishes their assets to be managed and distributed after they die. Everyone in West Virginia should consider creating an estate plan, even if you don’t have a lot of money or property. The first step in creating an estate plan is to determine who should be included in the plan. Generally, the executor of the estate (the person responsible for carrying out the terms of the estate plan) should be included. Other key people to include in the plan can include beneficiaries, trustees, and guardians. Beneficiaries are the people who will receive assets from your estate, such as cash, real estate, or investments. Trustees are responsible for managing the assets in your estate, such as investing money or running a business. Guardians are responsible for taking care of any minor children in your family. In addition, you should consider including more specific instructions in your estate plan. This could include instructions for how the assets should be invested, distributed, and used. It could also include instructions for how the children should be raised and educated. By taking the time to consider who should be included in your estate plan and what instructions should be included, you can ensure that your wishes will be carried out after you are gone.

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Who should be included in an estate plan?

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