Writing your own will can be a challenge. Because you may be new to the process, it can be easy to make mistakes that affect your family and friends after you pass away. Here are some will writing tips that can help you avoid problems for your loved ones in the future.
Name an Executor
When you pass on, the executor of your will is entrusted with settling your affairs. Usually, an executor is supposed to work with creditors to pay your bills and make sure that the wishes in your will are carried out, distributing belongings and writing checks to those beneficiaries you name. It is important to name a particular executor in the will itself so that there is no argument about who will perform this role for you.
The first person you might be thinking of to be your executor is likely to be a spouse or child. However, it is important to remember that your death will have a significant emotional impact on them; they may not be the best choice for the role of executor because of the grief they are likely to experience when you pass away. Instead, choose someone you respect and trust to be fair as they carry out their duties.
You might select a bank representative or lawyer to be your executor, but keep in mind that these people may require payment for this service. Set some money aside to pay them and mention that in your will.
After you draft an initial version of your will, you may put it somewhere and forget about it. However, as grandchildren are born, you may want to add them as beneficiaries. If you have a falling out with someone, you may no longer want to give them anything. Updating your will is very important to remember; updates provide the best picture of how you feel right now.
Talk to Your Family
While writing your will, it's a good idea to talk to your family about the things you plan to do with your belongings and financial assets. If they are aware of your plans that may cut down on the number of arguments among them when you do pass away, and being able to ask you questions about why you are making certain decisions might foster understanding that helps them feel better about what you are doing. It is also important to talk to your family about your will so that they know where the most recent version of your will is and how to reach your executor.
Use the advice in this article to help you when you are working on your will. If you want even more support during this process, consult a local will attorney who can assist you in drafting a comprehensive will that clearly expresses your last wishes.Share
31 August 2015
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