Whether you’re old enough to move into a senior living community or you’re just wanting to plan for the future of your family and your possessions, it’s wise to have a will in place so that, in the event of your death, your friends and family will know how to proceed. However, putting your will together includes more than just writing down who you want to give your money or belongings to. So to help ensure that you go about creating this legal document in the right way, here are three things to consider when creating your will.
Hiring A Trusted Lawyer
While you can create your will all by yourself or through the use of a self-serve legal service, most people will find that this process is going to be easier when done with the help of a trusted lawyer. Not only will a lawyer be able to make sure that you do everything by the book so that everything within your will is legally binding, but they can also make sure that you’ve covered all of your bases as well.
With all of the experience that lawyers have in creating wills for people with big and small estates, you can be sure that an experienced lawyer will be able to give you insight into the best ways to go about creating your will and getting everything just how you want it.
Who Do You Want To Have What
Something that you’ll want to make sure that you state within your will is who you want to be given what assets from your personal estate. This should include both your physical assets and your financial assets.
Keep in mind that any debts that you have will have to be paid off before any of your friends or family will have access to your accounts. But if you know how much you’ll need to pay from your accounts to your debt, you can then allocate the rest of your assets to specific people or organizations. And for your physical assets, consider listing them out now so that you can know what to give to who.
Be Wise When Choosing Your Executor
Within your will, you’ll need to choose someone to be the executor for you. This person will be responsible for making sure that everything goes according to the plan that you’ve laid out. This can be a lot of work, especially if things aren’t super clear or someone wants to contest the will. For these reasons, you’ll want to make sure that you choose the right person to be your executor. This should be someone that you trust, that you know will get things done how you’ve intended, and who can handle the pressure of being an executor.
If you’re going to be creating a will soon, consider using the tips mentioned above to help you in putting this together the right way.