Your will is one of the most important legal documents that you’ll ever sign. If you die without a will, your assets will be distributed according to state law. That means your family may not receive what they expect, and some states have laws that limit who can inherit your estate.
If you want to leave your assets to your loved ones in the way you intend, it’s important to make sure your will is valid and up-to-date. Here’s what you need to know about preparing a will:
Determine who should be included in the will.
The first step in preparing a will is deciding who should be included in it. You can add as many or as few people as you want — whether it’s just you and your spouse or everyone in your extended family — but at least name someone who would inherit if something happened to both you and your partner (for example, if there was no surviving spouse). This person is known as the “default beneficiary.”
In general, wills are created by lawyers or other professionals who specialize in this area of law. However, if you wish to draft your own will, there are several templates available online that can make the process easier. If you choose to write your own document, it is important that you understand how the law works so that you do not inadvertently create any problems for yourself or your beneficiaries.
Once you have completed writing your will, it needs to be reviewed by a lawyer who specializes in estate planning and probate matters so that any potential issues can be identified before signing and sealing it. This ensures that all of your wishes are respected and any potential disputes can be avoided before they even become possible problems down the road
A will is a document that tells your family, friends and the people who you leave behind what to do with your property after you die. A will can also help you avoid probate, which is the court-supervised process for distributing the assets in an estate.
A will is a legal document that should be reviewed regularly. You may want to make changes if you remarry, have children or grandchildren, buy or sell property, or if your financial situation significantly changes.
If you die without a will, your property would be distributed according to state law instead of how you want it done. In some cases, this could mean that your property would go to distant relatives or strangers instead of people who are closer to you and whom you care about more deeply.
If there’s enough money in your estate, an attorney may draft up a simple will for you at their hourly rate. If not, they may charge by the page or by the hour to prepare a customized document with all of the details spelled out clearly and correctly. If you need any help with making a will, contact us.