This package contains two wills for a man and woman living together with minor children. It is designed for persons that, although not married, desire to execute mutual wills leaving some of their property to the other and that have minor children. Instructions are also included.
The wills must be signed in the presence of two witnesses, not related to you or named in the wills. If your state has adopted a self-proving affidavit statute, a state specific self-proving affidavit is also included and requires the presence of a notary public to sign the wills.
Sioux Falls, South Dakota Mutual Wills or Last Will and Testaments for Unmarried Persons Living Together with Minor Children In Sioux Falls, South Dakota, unmarried couples who are living together and have minor children can benefit from creating mutual wills or last will and testaments to protect their assets and provide for the well-being of their children in case of any unforeseen circumstances. These legal documents are essential for ensuring that the wishes of both partners are respected and followed after their passing. 1. Mutual Will: A mutual will is a legally binding document that allows unmarried couples to make reciprocal provisions in their wills for each other as well as their minor children. With a mutual will in place, both partners can determine the distribution of their assets and designate guardianship for their children. It ensures that each partner's wishes are honored and that there is clarity regarding the distribution of property and the care of the children. 2. Last Will and Testament: A last will and testament is a legal document that allows individuals to determine the distribution of their assets upon their death. Unmarried persons in Sioux Falls, South Dakota, living together with minor children can create individual wills that address their specific desires, such as property distribution and child guardianship. It is essential for both partners to have separate wills that align with their intentions to avoid any potential conflicts or uncertainties in the future. When creating mutual wills or individual wills for unmarried persons living together with minor children in Sioux Falls, South Dakota, several key aspects must be considered. These may include: Guardianship Designation: Unmarried couples should clearly state their choice for guardian(s) who will take care of their minor children in their absence. This designation should be made after careful consideration of the chosen guardian's ability to provide for the child's physical, emotional, and financial well-being. Property Distribution: The mutual will or individual will should outline how the couple's joint and separate assets will be distributed upon their passing. This could include real estate, financial accounts, investments, personal belongings, and any other relevant assets. Trusts: Establishing a trust can provide added protection for minor children and their inheritance. Setting up a trust allows for better control over the distribution of assets, potentially avoiding any mismanagement or inadequacy in the event of the parents' premature death. Executor: Naming an executor is crucial, as this individual will be responsible for administering the will and ensuring that all provisions are carried out as intended. The chosen executor should be someone trustworthy and capable of handling legal and financial matters diligently. Review and Update: It is recommended to review and update the mutual will or individual will periodically, especially when there are significant life changes such as the birth of additional children or changes in financial circumstances. Regular reviews will help ensure that the will accurately reflects the individuals' wishes and provides for the evolving needs of their family. Seeking legal assistance from an experienced attorney is highly recommended when creating mutual wills or individual wills for unmarried persons living together with minor children in Sioux Falls, South Dakota. An attorney will guide couples through the process, provide expert advice, and ensure that the legal documents are drafted in compliance with state laws.
