Writing a will is an important part of every estate plan. If you have a specific idea of how you want your estate to be managed to your loved ones, you will want to create a will. If you are unsure of what to include in your will, a wills lawyer, like one from Legacy Law can provide assistance. They will be able to answer all of your questions about what your will should include and how it should be best structured. Creating a will can be an emotional and overwhelming process, but here are a few things that you can start with.
Identify Your Property and Assets
Make a list of your assets that you will include in your will. This includes your home, vehicles, property, accounts, life insurance, pets, and personal items. Many people forget to think of their heirlooms or their smaller personal items, so be sure to thoroughly go through your list to check that nothing of importance is left out.
Pick an Executor
An executor is the person who has the authority to manage your estate and distribute your assets after your death. Their role demands a great responsibility, organizational skills and attention to detail. This should be a person that you trust to take care of your estate. They should respect your wishes and act in a manner that aligns with your needs and best interests.
Name a Guardian
If you have children, you will want to name a guardian for them. Choose someone who not only has the financial capacity to care for your child or children, but a trusted person who your children are comfortable with and can bond with. Ideally, they should have a similar parenting style, life philosophy and have no other obligations of their own.
Choose Your Beneficiaries
The people who receive your assets are called beneficiaries. If you want certain loved ones to have a portion of your assets, specifically list them in your will as beneficiaries. Be as specific as possible so that there is no confusion about who receives what. This will minimize the likelihood of a conflict over who gets to own your assets.
There are many elements in a will, and it’s crucial that you get them right. Developing a will can take some time, and it’s best not to rush the process. However, you should get started early so that you can receive timely assistance if necessary. Contact a trusted wills lawyer now to begin.