My wife and I have been very negligent and haven't set up a will yet. Here's a couple of facts:
* Good amount of assets
* 20 year old son, halfway through college
* 17 year old daughter (turns 18 in October), going to college next year.
At first I thought it would be a simple will - split everything between them 50-50. I mean, that's what we ultimately want, but then I started thinking about complications:
1) My daughter isn't 18 (yet). How will this complicate the will?
2) My son is very intelligent and I would normally consider making him the executor, but is this too much of a responsibility for a 20 year old college kid?
3) If so, then should I find someone else to be the executor until he's older?
4) Is it a good idea to just say "Here, split everything 50-50", or would it be wiser to dole out the money via a trust over time or until they reach age 25 (or something like that).
I just want to get an idea for what an attorney will ask me when I make an appointment and what other things I haven't considered yet.
Thanks...