Regardless of your age or net worth, it is important to write a last will and testament. This important estate planning document describes what you want to happen to your assets after your death. If you are a parent, your will also can name a guardian to care for your kids if necessary.
According to reporting from CNN, dying without a will means state law decides what happens to your wealth. Because you want to have some control over your estate, you should prioritize writing a will. After you finish, though, you might wonder who should receive a copy of the document.
Your legal representative
It may make sense to have legal counsel when writing a will, especially if you have a complex estate or children. After all, you need to have an air-tight estate plan. If you use an attorney, your lawyer will probably retain a copy of your will.
Your executor
Your executor is the person you choose to administer your estate after your death. This individual pays your debts and distributes your assets, among other tasks. As a result, it makes good sense to give a copy of your will to your executor and tell him or her how to find the original.
Your beneficiaries
You probably know who you want to receive your assets after your death. While it is not necessary to give your beneficiaries a copy of your will, doing so might allow them to plan for their futures. Moreover, if your will names a guardian for your kids, that person probably should have a copy.
Ultimately, even though certain individuals may need to have a copy of your last will and testament, it is important to safeguard the document and not to distribute it indiscreetly.