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Talking about death is not the most fun thing to do, especially when yours is the main topic. For this reason, you may postpone writing your will. Still, you have to write your will if you want particular people to be in charge of your belongings after you pass away. It’s harder to start the will than to complete it, and that is because you don’t know where to begin, or you might not be sure who you want to inherit your home and wealth.
Writing a perfect will is also difficult, but not impossible. We’re here to help, so here are some tips to keep in mind:
1. Include Everything
If you have things that are very precious to you, then you definitely want to make sure they’re in the right hands after your passing. It doesn’t matter if some of the things you include are not valuable per se. If they’re precious to you, then that’s all that matters, and they should be included there. You may have a full bookshelf of comic books that you want to give to a certain person, or perhaps you have a gaming laptop that you wouldn’t give to just anyone in the family.
Therefore, don’t be scared that your will is going to be longer or that people will find it weird. What matters the most is that the items end up in the right hands.
2. Consult a Lawyer
It’s hard to write a will, especially when you don’t know all the legal processes that will take place after your death. You may be determined to start writing the will, yet you know nothing about how belongings are distributed after you pass away.
This is why you should consult a lawyer. Estate planning lawyers can tell you more about how your estate is being distributed after your death and how you can handle things.
John K. is a Springfield estate planning attorney who had to advise a lot of people in writing their wills. Here is what he has to say on the matter, “Usually, it’s better to give your estate or business to one person like your child and spouse, and offer some monetary share to the other family members,” he says. “Also, you should always choose your executors very well and make sure you find a substitute in case both you and the default substitute pass away.”
3. Designate Your Executor
An executor is someone who will manage and distribute your assets after you pass away. So, it’s important to choose a trustworthy person as your executor. Make sure it’s a close person who will respect you and your will. Pick someone to be a substitute executor as well in case the default one is not available.
4. Name the Beneficiaries
Beneficiaries are the people that will get your assets after you pass away, so it’s important to name all of them. These beneficiaries may be your children, spouse, friends, family members, and others. On top of that, you should also include their full names so there is no confusion.
5. State Where Everything Can Be Found
Not only that you should include all your precious belongings in your will and your chosen executors, but you should also let them know where the items can be found. There is nothing worse than going on a treasure hunt for something that doesn’t seem to be there. If there is any safe place where you keep things, include this in your will.
6. State Residual Legacies
Residual legacies refer to what remains in your estate once you are done making the other legacies. If you do not mention who the “residue” goes to, it will all end up in a partial intestacy. Even if the legacies would be distributed according to the will, the intestacy laws will control the residue – that’s why you should state who it goes to before it’s too late.
7. Appoint Guardians for Your Children
If you have children under 18 and you are the only living parent, you should appoint a guardian to take care of them. Otherwise, the court will appoint other guardians. Besides, if the man dies in an unmarried couple, the woman will get guardianship automatically, but the opposite is not available. This is why it’s important to appoint a guardian in your will.
8. Make Sure You’re Specific
An unclear will can be hard to understand. For instance, there may be family members having the same name. So, if you mention different beneficiaries and there are three people with the name “James”, it’ll be confusing if you refer to all of them using only their first name. Be more specific and include their full names. Other things such as your account numbers, security boxes, and anything of the sort should be included in your will for easy access.
9. Update when Necessary
If something changes in your life and it’s significant enough, you can update your will accordingly. For instance, if a beneficiary passes away before you do, you may have to change the information regarding him/her.
10. Get Signatures from Witnesses
Once your will is finished, you should have two people be your witnesses. Make sure they are older than 18 and they are not beneficiaries. You should sign the will and date it in front of these witnesses, and then ask them to date and sign it too.
Final Thoughts
If you don’t want things to be chaotic after your death, it’s best to make sure you have your will ready. You have to be very careful when writing your will because it’s essential to have your belongings distributed to the right people. Not only do you need to be clear and specific, but you also have to list all the important belongings in the document and make sure you give them to the right people. It is also essential to choose a trustworthy executor. If you’re not sure what to do, talking to an estate planning lawyer can also help you write your will.
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