Regardless of your age, having a will is important. This document ensures that your assets and property are given to the people you want to have after you pass away. Of course, the thought of one day dying is not a fun thing to think about, however, if you die without a will set in place, then the court will handle your property for you. A will doesn’t cover everything, but it is an essential component of an estate plan, and everyone should have one. It doesn’t matter how much or how little assets you think you have, as everyone has a legacy they want to leave behind.
What details are most important to include in my will?
It’s worth noting that there are online programs that allow you to create your own will, but they are not as thorough as having an estate plan lawyer help you. There are too many instances where someone uses a generic program, only to have their will challenged. The option to make a quick and easy estate plan may be tempting, but cutting corners is never advised when it comes to how your legacy will be passed down to future generations. As a will lawyer from W. B. Moore Law LLC. has explained to clients, details that are most important to include in your will are listed as follows:
- Personal information (full name, address, date of birth)
- List of property and assets (tangible and intangible)
- Last will and testament
- Chosen executor (to handle estate after death)
- Names of beneficiaries (including those you want to exclude)
- Appointed guardians (for minor children or pets)
- Witness signatures
Who should I choose as my beneficiaries?
You can pick whoever you’d like to be a beneficiary. These are people you want assets to be transferred to after your passing. Your chosen legal team, like the lawyers at W. B. Moore Law LLC., can help you review beneficiaries such as family members, friends, or even a business or charity organization. It can help to name a contingent beneficiary if the primary dies before you. Another role you’ll have to choose someone for is who will be your estate plan executor. This person will handle your assets, distribute them how you have instructed, speak with beneficiaries, and perform other related duties.
Why do I need witnesses for my will?
Along with signing the will yourself, you will need to have witnesses present. A hand-written will may not require signatures, but it is better to have it properly filled out and kept somewhere safe. Additionally, witnesses are people who can attest to your sound mental capacity and can support the fact that you were of able health to write down your wishes. Without witnesses, it can make an estate plan vulnerable to being disputed or not followed as the deceased would have preferred.
If you are wondering what you should put in your will, then you are not alone. Many people are unsure how to get started writing their estate plan and may be daunted at the task. Others may not want to think about a time when they are not here with those they care about the most, and may put off the task until it is too late. No matter how large or small your estate is, everyone can benefit from an estate plan.