Where should I state in my will that all assets must be liquidated before distribution, and can this be added later?

Lexi, Chatbot

I understand that you want to ensure your estate is handled in a specific way, which is important for your peace of mind. Have you already drafted a will, or are you in the process of creating one?

Lexi, Chatbot

Are there specific types of property or assets you are particularly concerned about liquidating before distribution?

Lexi, Chatbot

Is there anything else the Estate Lawyer should know before I connect you? Rest assured they'll be able to help with your estate distribution.

Jon

Hello and thank you for reaching out! I’m Jon, a licensed attorney with over 13 years of experience, and I’m here to help. I understand legal matters can feel overwhelming, but you’re in good hands. I’ll do my best to make things clear and guide you toward the right solution for your situation.

Are there any particular concerns or preferences you have regarding the management of your estate during the liquidation process?

Jon

Have you considered how you would like your executor to be compensated, and do you have a specific amount or percentage in mind? Are there any specific instructions or conditions you want to include regarding the distribution of assets among your daughters and grandkids?

Jon

Understood! I believe I have all the information I need. Is there anything else you'd like to add before I start working on your answer? If not, I’ll get started right away.

Jon

Got it! I just need a few minutes to finish typing a full response for you. It won’t take long—about 4 or 5 minutes—because I want to make sure it’s thorough and thoughtful. Thanks for your patience!

Jon

From what you’ve shared, the main issue is making sure your will clearly reflects your wishes and that it’s written in a way that will hold up legally. The first place to address your instruction about liquidating assets is in the part of your will that talks about your executor’s powers.

That’s where you can give your executor the authority to sell off everything—your real estate, personal property, or other assets—and turn it all into cash before anything gets divided among your beneficiaries. If you word it as a firm instruction, like saying your executor “shall” liquidate everything before making any distributions, that leaves no room for guesswork.

If you’re thinking about adding this instruction to an existing will, you can technically do that with a legal document called a codicil. A codicil works as an amendment to your will, but it has to meet the same requirements as the will itself—it must be signed and witnessed properly. Simply writing a note and attaching it to your will won’t count. Many people choose instead to just create a brand-new will, because that way all your wishes are contained in one clean document, which reduces the chance of confusion or disputes later.

As for the way you want your estate divided, it’s smart to be as specific as possible. In your will, you’d spell out that everything should first be sold, and the money pooled together. From that, you could direct a flat $5,000 payment to your executor as compensation for their work.

After that, you’d set percentages for each person: 20% to your oldest daughter, 15% each to your two younger daughters, 12% each to your three grandchildren, and then whatever is left over would go to the charity you’ve chosen. Writing it this way makes the process very clear and leaves little room for argument.

One detail worth noting is executor compensation. Some states already allow executors to receive fees, so you’ll want to be clear in your will whether that $5,000 is instead of, or in addition to, what the law would normally allow. This avoids any confusion later.

Finally, none of these instructions matter unless your will is properly signed and witnessed according to your state’s laws. If those formalities aren’t followed, your wishes may not be enforceable. That’s why it’s strongly recommended to work with an attorney when making these updates. They can make sure the wording is airtight, that it fits with the laws where you live, and that the final document truly carries out your intentions.

Jon

You’re welcome! Did that help clear things up for you? If you have any other questions or need more help, please don’t hesitate to ask—I’m here to support you! I do hope the information I provided was helpful and addressed your question. If there's anything else you need, please don't hesitate to reach out—I’m always happy to assist. Wishing you a fantastic day ahead!