Saturday, March 3, 2012

I live in New York and have property in Puerto Rico. Do I need to make two Last Will and Testaments? I was also told that I can not disinherite any child according to "Puerto Rico law" Wouldn't the state I reside in laws apply since I only have property and do not live in Puerto Rico?|||The state that you reside in would ultimately decide what happens. If you want to make sure your kids don't receive anything from your death, then a will is a good idea. You should also have a will if you own any property or money so that the executor knows what to do with it. Otherwise, everything will go to your next of kin. Wills should be very specific especially when you have a lerge family of children under 18. Make sure that you can trust your executor to carry out the will. You can also put specifications in the will, for example, my parents will says that until I reach 24 years old, I can only get a percentage of the money left by them. Or you could say that your kids get their part once they have graduated high school or college. But, everyone needs a will to protect their assets.

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