What should be in an elderly parent's will?
When physical property and wealth are not a major issue, what are the important things an elderly parent should have in their will?
There are few things of importance if the parents want to add in the 'will' like the tips for their children to attribute that the property and wealth earned by them was as a result of hard work and sincerity done by them. The same effort should be made by their children with full determination.
Most of the time physical property and wealth are major issues when there is no proper will. Therefore I believe parents should solve these during their life.
Other than that padmendra's suggestions are excellent.
They should decide who gets what, who is to be the executor and how everything is to be disposed of. Even if you do not have much, there is always something that you would like each child to have. There is also something that no one wants or needs. Those things should be disposed of, either by selling it or giving it away. The executor makes sure that the provisions in the will are carried out and that things are disposed of in the proper method decided by the parents. This usually involves a little work and a visit to a lawyer and the court when done.
Whatever they so wish..........
My Dad, saw me into adulthood.
He owes me nothing more.
His money or his concerns....................well, they belong to him.
It is now my duty to carry his wishes out.............not to wish for something
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