Comments on: I Need Some Serious Advice On Our Wills http://www.attentionmax.com/blog/2008/06/i_need_some_serious_advice_on_our_wills.php Max Kalehoff On Marketing, Media & The Edge...Plus Bonus Insights On Start-Up Culture & Raising Kids. Thu, 18 Mar 2010 13:57:48 -0700 http://wordpress.org/?v=2.9.2 hourly 1 By: maxkalehoff http://www.attentionmax.com/blog/2008/06/i_need_some_serious_advice_on_our_wills.php#comment-4005 maxkalehoff Fri, 27 Jun 2008 12:39:07 +0000 http://www.attentionmax.com/?p=1503#comment-4005 Thanks Alex, and congrats on your second! I hear one is arm candy, but two is when the real work starts, especially when they're very close in age. Helpful advice. Thanks Alex, and congrats on your second! I hear one is arm candy, but two is when the real work starts, especially when they're very close in age. Helpful advice.

]]> By: ASicre http://www.attentionmax.com/blog/2008/06/i_need_some_serious_advice_on_our_wills.php#comment-4004 ASicre Fri, 27 Jun 2008 10:58:24 +0000 http://www.attentionmax.com/?p=1503#comment-4004 Max, all great comments. You made me think about my own situation. We are going to go with my brother in law (and my best friend), godfather to our eldest and his wife for guardian, with back-up being another best friend. Neither have kids yet, but love our sons and have the same values we do. <br><br>My father's executor and trustee are one in the same - a very good college friend who runs a private bank. i would definitely not give either position to a family member, but a trusted friend who is in the industry and can make educated decisions. my mother is going through it with her mother's estate and it is not that pretty.<br><br>i guess i have to get on the ball and do this as well, since our second is already 6 weeks!<br><br>Best of luck with these tough choices. Max, all great comments. You made me think about my own situation. We are going to go with my brother in law (and my best friend), godfather to our eldest and his wife for guardian, with back-up being another best friend. Neither have kids yet, but love our sons and have the same values we do.

My father's executor and trustee are one in the same – a very good college friend who runs a private bank. i would definitely not give either position to a family member, but a trusted friend who is in the industry and can make educated decisions. my mother is going through it with her mother's estate and it is not that pretty.

i guess i have to get on the ball and do this as well, since our second is already 6 weeks!

Best of luck with these tough choices.

]]> By: It's Just Me http://www.attentionmax.com/blog/2008/06/i_need_some_serious_advice_on_our_wills.php#comment-4003 It's Just Me Thu, 26 Jun 2008 23:48:20 +0000 http://www.attentionmax.com/?p=1503#comment-4003 Max - If you want someone other than family, I am thinking of a guy who works for your dad who also has a young son. I believe you have known this person for a long, long time. Max – If you want someone other than family, I am thinking of a guy who works for your dad who also has a young son. I believe you have known this person for a long, long time.

]]> By: maxkalehoff http://www.attentionmax.com/blog/2008/06/i_need_some_serious_advice_on_our_wills.php#comment-4002 maxkalehoff Thu, 26 Jun 2008 12:38:07 +0000 http://www.attentionmax.com/?p=1503#comment-4002 lturec, I appreciate your insight. lturec, I appreciate your insight.

]]> By: lturec http://www.attentionmax.com/blog/2008/06/i_need_some_serious_advice_on_our_wills.php#comment-4001 lturec Thu, 26 Jun 2008 12:29:24 +0000 http://www.attentionmax.com/?p=1503#comment-4001 We have been through this:<br>Guardians (primary and back up) - In our opinion,pick someone (or a couple) who first of all will love your kids, someone who has beliefs that closely match your own, someone with good health who will most likely be there long-term for your kids as they grow up. If possible, someone who would not require the kids to have to move, especially if they are in school. Usually a relative is the best fit, but not always.<br>For the Executor - this can be a really cumbersome job and I don't recommend giving this to a relative. If you have a relative who is an attorney that is often a good fit - but he/she may have to agree to a greatly reduced hourly rate in order not to decrease the inheritence with high billing. If there is a large financial estate you may also want to name a 3rd party with a strong financial background.<br>Trustee of Assets may depend on the state you live in and the age of the child upon inheritence. For example, when my son was 12-years-old, he inheritted a sum of money. Because of the state we live in, a judge determined how the money would be invested until age 18. In our will, we actually have indicated that no one will inherit until age 24. We have been through this:
Guardians (primary and back up) – In our opinion,pick someone (or a couple) who first of all will love your kids, someone who has beliefs that closely match your own, someone with good health who will most likely be there long-term for your kids as they grow up. If possible, someone who would not require the kids to have to move, especially if they are in school. Usually a relative is the best fit, but not always.
For the Executor – this can be a really cumbersome job and I don't recommend giving this to a relative. If you have a relative who is an attorney that is often a good fit – but he/she may have to agree to a greatly reduced hourly rate in order not to decrease the inheritence with high billing. If there is a large financial estate you may also want to name a 3rd party with a strong financial background.
Trustee of Assets may depend on the state you live in and the age of the child upon inheritence. For example, when my son was 12-years-old, he inheritted a sum of money. Because of the state we live in, a judge determined how the money would be invested until age 18. In our will, we actually have indicated that no one will inherit until age 24.

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