Providing Property Management

Choosing Among Property Management Options

For each minor or young adult to whom you leave property through your WillMaker will, you must decide which management approach to use: the UTMA, a child’s trust, or the pot trust. This article helps you decide which is best. Using the UTMA As a general rule, the less valuable the property involved

Property Managers for Young People's Property

When making a will using WillMaker, you’ll have a chance to set up property management for your young children as well as for any other young beneficiaries of your will. Types of Property Managers in the WillMaker Will There are four types of property management you can set up in Nolo’s will, and

Examples of Property Management

Here are some examples of how WillMaker's property management options might be selected. The following scenarios are only intended as suggestions. EXAMPLE 1: Married, adult children age 25 and older. You want to leave all your property, worth $250,000, to your spouse and name surviving children as alternate

Management for Property That Does Not Pass Under Your Will

The UTMA, child’s trust, and pot trust are good management options for property that minor or young adult beneficiaries receive under your will. However, if you have minor children and they receive property of significant value outside of your will, a court will usually have to step in and appoint

Management for Property That Passes Under Your Will

WillMaker offers three approaches to property management for property that passes to minors under your will: the Uniform Transfers to Minors Act, an option in all states except South Carolina the child’s trust, an alternative to the UTMA, and the pot trust, an option if you have two or more children

Providing Property Management, For Whom?

When you make your will with WillMaker, you will have a chance to set up property management for any young beneficiaries who might receive property under your will. If you choose to set up property management, you will name trusted adults to look after the property on behalf of the beneficiaries until

Should You Provide Property Management in Your Will?

After you have decided who will get your property, WillMaker asks you whether you want to create property management for young beneficiaries. First, consider whether any of your beneficiaries need someone to manage the property for them. For example, think about each beneficiary's: age maturity relationship