How to write a will?

Writing a will is never a high-priority item on anyone's to-do list. Especially when people are young or until they don't reach their fifties. Because it is a common assumption that one only needs to write a will when he or she is sick or old. But this assumption is just as untrue as the assumption that people die only of old age. It is not a thing that you would like to think about on a random Sunday but considering what would happen to our loved ones after our death makes it important. The thought of writing a will may be very uncomfortable as it involves thinking about your death but it is the best thing that you can do to yourself and your loved ones.

A will assures that your wealth is distributed and allocated to the people you love and trust without any family disputes. Moreover, it will give you great peace of mind knowing that your wishes will be followed after you are gone. While writing a will can seem to be a daunting task, but it doesn't have to be that complicated. Because now creating online wills is easier than before.

But before we get into the process of knowing how to make a will, it is essential to know the answers to some questions like what is it, why is it important, who needs it, and who can write it.

What is a will or a last testament?

The legal declaration of intention of the testator with respect to his property that he desires to be carried into effect after his heath is called a will or last will and testament. In simple terms, a will is a legal document that states, whatever personal belongings or assets a person has will go to your family members or beneficiaries you designate after your death. The two essential characteristics of a will are that it must be intended to come into effect after the death of the testator (a person who writes a will) and also revocable by the testator at any time.

Though wills are usually written for disposing of the property they can also be created to appoint testamentary guardians for minor children and executors (person named to administer the estate or is subject to the supervision of probate court in accordance to the testator's wishes).

However, if a person dies without writing a will, he is then said to have died intestate and his property will be inherited by his legal heirs according to the law of succession. Here, the legal heirs are the close family members like spouse, children, parents, brothers, and sisters.

Why writing a will is important? 

In case of death and absence of a will, your property or estate will be distributed according to the law. It will be responsible for the distribution and maintenance of your estate. But just think of a question that would you like to appoint a drug addict working uncle as a guardian for your kids or a good, trustworthy but a retired uncle. But there are high chances that the court may give custody of your kids to the one who is working because it may not know that he is a drug addict. Thus to avoid such fallouts, a will is a must. 

Apart from this writing a will is good for multiple reasons such as you will be clear about who gets your assets and you are the one to decide how much do they get. A will can also help you keep your assets out of the hands of people you don't want, for instance, an estranged relative. With a will, you can also appoint guardians to take care of your children, or else the court will decide in the absence of a will as we discussed above. Moreover, your loved ones will have the fastest and easiest time getting access to your assets with a will. You will also be able to save your estate money on taxes by writing a will. 

Who needs a will?

Most people think that will is only for rich and wealthy people but that is not true. Any legal adult who is above 18 years of age and wants to lay out his last wishes regarding his assets after his death will be benefited from a will. So, the idea that if you don't have a substantial asset, you don't need a will is wrong. A will is important for everyone regardless of its worth on paper.

Your wishes will be heard regardless of how much or how little you earn. A will states that whatever personal belongings or assets you have, will be allocated to the family members or beneficiaries you designate. Where assets can be anything like a car, house, or land. Beyond personal belongings, a will is also very essential especially to people who have younger children. It will ensure that you get to choose the guardians of your children before you pass. Apart from this the people who own a business with business partners or family members also need a will to ensure that the business survives after they are gone.

Who can write a will? 

Anyone above the age of 18 can write a will. The only condition is that he or she should be of a sound mind. This means that the person should understand what a will is and what it means before signing it. He should also know the people listed in the will and his relationship with them. He should have a good grasp of what type and amount of assets he has.

A will not come into effect until your death, but afterward, it goes through a probate (the legal process of closing out or settling the estate of a deceased person.

How to write a will? 

When you are learning about how to write a will, the first most important thing is to simply get started. Here is how you can begin:

1. Gather all your information 

When you start preparing your will, you need to gather some information like

• Executor: An executor is a person who you want to be in charge of managing and distributing your estate. You should always select the one you trust the most. Make sure that the person you choose is honest, reliable, and willing to act as your agent.
• Assets: Note down how much property you have including your real property that includes land and buildings and personal property like vehicles, bank accounts, family heirlooms, etc. Make a list of everything you own.
• Debts and taxes: Find out if you need to pay out any amounts regarding your estate.
• Beneficiaries: Make the list of people like your family members, you to designate your property to, including their full names, birthdates, and Social Security numbers.
• Guardian: In case you have small kids, also choose a guardian to take care of them and their property in the event of the deaths of both parents. Also, think of an alternative if the person you choose is unable to take responsibility.
• Pet care: Think of who you want to take care of your pets and the funds, you set aside for your pet's care.

2. Write a will

Now as you have all the information you need you can begin creating your will. At this point, you may either hire a lawyer or do it yourself. Nowadays, online wills are becoming increasingly popular as they are quick and easy to create. They are also legally valid as long as they are executed according to the respective state's law. You can also use templates generated by will software or fill in the blank forms. 

No matter which method you choose, be well prepared with the issues you need to address that we already discussed in the first point.

Start with titling the document "Last Will and Testament" and also include your full legal name and address. State details like your age and that you are of a sound mind in the declaration paragraph. Designate an executor of whom you have already thought in the first point and also decide whether you wish to compensate your executor.

As you have already made a list of your assets and decided who you want to allocate them, mention who will inherit what in the will. If you wish to disinherit a family member then also make sure to name the person in your will and the reasons behind it.

In case, if you are the last surviving parent don't forget to name a guardian to take care of your minor or dependant children. After you have finally finished writing all the points in your will, ask two people to serve as witnesses who are above 18 years of age and not one among your beneficiaries and sign and date the will in front of them.

3. Make sure your will is legal 

Creating a will is a vitally important act and has far-reaching consequences. Though you cannot take a will with you but by writing a valid will you can give back to your loved ones in a legal manner.

To make a valid will, it is important to know what your state requires because the laws concerning will vary by state. Generally, a will to be legal, it should be written by a person above the age of 18 and one with a sound mind. It should be signed by the testator (the person who wrote the will). If the will-maker is physically unable to sign the will then it is permissible for a will-maker to assign someone else to sign it in presence of the witnesses. According to most of the states it also requires the signatures of two witnesses (who witness the testator signing the will) who are also above 18 years of age.

While the person named as executor does not need to sign it because the jurisdiction requires the signatures of people who are not the beneficiaries and in some cases, the executor can also be named as a beneficiary in the will, which would make him ineligible to be one of the witnesses. 

4. Copy and store the will

Once, you have completed the will, make sure to create a copy of it and store both the original will and its copy in a safe place such as a filing cabinet and a fireproof lockbox. You should also inform your loved ones about where the documents are and how to find them. So that the process of probating is easy after your death.

5. Keep the will up to date

Well, writing a will is a fantastic start to ensure that your intentions, both financial and otherwise are carried out. But it is a fact that significant changes may occur from the time you wrote the will until you die. These changes may make it necessary to make some changes in the content of the will. This makes it important to keep your will updated.

A good thing about a will is that it can be changed and updated at any time. So, according to a digital marketing company with legal digital marketing services, you should make sure that the will you wrote still reflects your wishes by planning to revisit it at least yearly. Some major life events that can affect your will change in financial circumstances, the birth of a child, divorce, or death of a close relative. These events may have a significant impact on your will and your intentions regarding the distribution of your property. So be sure to keep your will updated accordingly to keep your beneficiaries away from costly, emotionally draining, and unnecessary court proceedings.

Conclusion

A will is the smoothest way to ensure that your wishes are taken into account after you are gone and also support your loved ones. By reading this post, you must have certainly understood that writing a will is not that complicated. You can also search for will samples online for more guidance. But if you still find it difficult, you can always seek professional help.

Lastly, make sure to revisit your will periodically to assure that it still reflects your wishes accurately. This way you will be reassured that your loved ones will be taken care of and your wishes will be followed.