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Think About This Before You Write Your Will

by Editorial Team | March 13th, 2018 | Elementary

Writing your own will is something that you can do but you need to be careful and make many important decisions when this happens. Most lawyers will tell you that thinking about what is to be written inside the will is harder than building the document. There are many things that you will need to add and deliberate decisions that are vital when thinking about business, assets and children.

Generally speaking, a simple template legal will is all you need. You are going to find ideas and suggestions on the internet. However, whenever you feel that there are some things that are more complex than you understand and there is a strong possibility someone might be interested in contesting a will, working with an attorney is a great idea.
Some situations of extreme importance are highlighted below.

Appointing Guardians For Minor Children
If a parent dies, the remaining parent receives custody for minor children. When a parent is not fit or when both die, it is the court and the family that will make the decision. The only situation when this does not happen is when you have a will in which you clearly decide who the child’s guardian is going to be. If wishes are not expressed in this legal document, the state is going to make the choice, one that might not be exactly what you want.

Whenever there is a minor and a will is drafted, you want to add the names of the first and second choices you have for guardians, together with the reasons why the choice is made and details about the relationship between the adult and the child.

Will Beneficiaries Choice
Most beneficiaries in wills are common, like children, favorite charities, spouses or the extended family. When married, assets generally go to the spouse upon your death. However, planning for unexpected situations is a good idea since there are unwanted situations, like when you both die. Assets from previous marriages could go to the children instead of the spouse and other situations that you might want could be considered. With property that you own together with the business partner or the spouse just the portion you own can be given away.

Choosing Personal Representatives That Will Execute Your Wishes
Appointing a will executor is always something you want to think about. Choose the best possible person for this. In order to do this, you want to completely trust the executor’s judgment so that he can be appointed as a personal representative.

Generally, it is considered to get family members to be executors but this can lead to various problems and those people will end up having to deal with extra stress at times that are already hard to deal with. Obviously, you will want to consider your current situation to make the best possible choice.

Final Thoughts
Always be careful with the will creation process. You want to be sure the document includes all you want to happen upon your death. Whenever doubts exist, talk to lawyers to help you out. They do not have to draft the entire document but can always offer advice.

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