You don’t really think about a will when you’re in your prime. It’s something you want to be concerned with later when you’re older and you want to make sure your assets are distributed accordingly. But a will is something you should plan in advance, whether you are in good health or not.
Writing a will is not the same as writing a short homework, though. If you’re not careful, you can easily mess something up, thus leading to your loved ones dealing with difficulties after your passing. How can you make sure that doesn’t happen? Here are 5 things to keep in mind when writing a will.
1. Don’t Forget About Hiring an Attorney
Many people think that writing a will is a task they can manage by themselves. While sometimes they can do it with no issues, not having legal help can be a huge mistake.
Law experts know what you should and shouldn’t include in the will, and they know how to avoid potential pitfalls. On top of that, they will tell you how to write the document in order to make it effective after your passing.
Wills are legal documents, and it only makes sense that you should consider hiring a lawyer before you write them. Luckily, each location has a law firm or experienced lawyers willing to help with will crafting.
Tennessee is a state that not only accepts nuncupative wills in some cases but also holographic ones at times. Having a lawyer around to help you out can be critical in these moments, so you should consider looking for Brentwood will attorneys.
2. Find an Executor
An executor is an individual or organization whom you appoint to take care of your final wishes. He or she will make sure that everything you’ve written in your will is carried out accordingly, regardless of the opinions your family has.
If you want everything to go smoothly, you should choose the right person to be your executor. It can be anyone, such as a good friend that you trust or a family member. And while you can also appoint someone else to do it as well if you want no bias involved, keep in mind that someone with no interest in the estate will consider this task a burden.
3. Identify All Assets
Before you begin writing your will, you should identify every single asset that you have. This can include anything that can be distributed or needs to be taken care of after your passing. For example, your assets can be deposits, shares, insurance policies, bank accounts, lockers, retirement funds, properties, and other such things. Things like domain names, social media accounts, or websites that make money should also be included in your will.
4. Pick the Right Beneficiaries
Who is going to inherit something of yours after you’re no longer among the living? This is perhaps the biggest question for anyone who is writing a will. If you have things that are precious to you and don’t want to end up in the wrong hands, the best thing you could do is choose your beneficiaries accordingly.
Depending on what you decide, your beneficiaries will receive all your assets or only a part of them. Anyone can be a beneficiary, regardless of age. So, even a minor can become a beneficiary if you want to.
Also, beneficiaries are not limited to people either. You can name an organization or a charitable trust as beneficiaries as well.
5. Sign the Will in Front of Two Witnesses
You may or may not decide to reveal the existence of a will to your beneficiaries. However, you should let someone know about it, so you can make sure it’s executed.
When you sign your will, make sure you have two witnesses present. They should not be your beneficiaries. Also, it’s unnecessary for them to read the will or know what it contains. They simply need to be present when you sign and date your will.
Also, they must also offer a signature and then mention that they have witnessed you signing the legal document. Their name and addresses should be included too.
Final Thoughts
It’s important to make sure that your will is executed, that you choose the right executors and estate administrators, and that the right people inherit your assets. Writing a will is not easy, and it’s something that surely takes time, so always remember the tips here while doing it if you don’t want problems to arise.
