top of page

The Process of Writing a Proper Will

2.jpg

It is apparent that most of us are yet to consider writing a will or doing our estate planning. This is mainly due to the fear and skepticism people place on discussing their inevitable death. This contradicts their declared love for their families. A will and estate planning will cover them when you are not around. In case you are not sure of how to write a will, here are some tips to help you along. Visit this page to get started.


You need first to make a list of all your assets and liabilities. You shall thus know your net worth, and the composition of your estate. This shall also be useful info for writing a will.


This is where you now find out who your beneficiaries are. They are who you will assign what you own. It is important you apportion these things to them accordingly.


You need to appoint an executor for your estate. This service is provided by attorneys as well as bankers for a fee, usually a small percentage of the estate's assets. Whoever you choose, even if it is a family member needs to receive that compensation for this service. Read more about this here.


You should now find an attorney to help you write that will. You can get referrals from your friends, family, or colleagues. The state's bar association is another great source.


The drafted will needs to cover all details. You do not need it to have any ambiguities. Children and similar dependents usually suffer as a result. The attorney is three to make sure there is no such chance.


You need to do the assigning of assets realistically. Talking to the proposed beneficiaries is a good way to make things comfortable for everyone. You may also listen to them to see how well the plan shall be.


You should include a letter with the will if you feel it shall not be clear enough. This shall make everything in the will easier to understand. This shall also be a chance to tell them goodbye.
It is important that you keep the will safe. You need it in a safe place, and accessible to a trusted party once you are gone. A fireproof safe is a good example.


You should also update the will regularly, or as per the changes in your family composition. There shall be many changes in your life as the years roll by. These shall affect the contents of your will.
The idea of writing a will may seem tough at first. With this plane, however, you shall discover more peace thereafter, knowing everyone and everything is taken care of. You can also learn more tips and trick to help you in other areas of your life.

 

bottom of page