Learn something new every day More Info... by email
When you want to create a will, you may consider seeking a lawyer’s help with drafting it. If you’d prefer to avoid lawyer fees, however, you may take advantage of the many programs that make will drafting easy. There are even some fill-in-the-blank templates you can use to draft a simple will. Once you’ve decided how you want to create a will, you’ll need to compile lists of your assets and beneficiaries. After you have finished dividing your asserts, you will usually have to sign the will and have a witness or two sign it as well.
While it is not mandatory, a consultation with a lawyer may prove helpful when you are creating a will. A lawyer who is licensed in your jurisdiction and experienced with wills may advise you on the types of things you should include in your will and any legal language that must be added. In fact, you may ask a lawyer to create a will for you. Since legal fees may be expensive, however, you may alternatively consider software that guides you through the legal process or at least a fill-in-the-blank template for creating your own will.
To create a will, you will need a list of assets you want to include. Sometimes, however, it can be difficult to remember everything you own that is of value. As such, you may do well to take your time with compiling a list of your possessions before you get started. You can include everything from the contents of a bank account and stocks to a car and a home in your will. You can even include things like a diamond ring or a prized collection of baseball cards.
You will also need to make a list of your beneficiaries when you want to create a will. Your beneficiaries are those to whom you want to leave your assets in the event of your death. This can include family members, such as a son or a daughter, or even a friend. Some people even write wills that leave some of their assets to cherished family pets or charitable organizations they want to support.
Once you have a list of your assets and beneficiaries, you will then have to decide which beneficiaries you want to receive your assets. It is important to be specific to avoid confusion. For example, if you want to leave one person all of your money and another person your physical property, you should specify where the money is, such as in particular bank accounts. Likewise, if you are leaving a particular beneficiary physical assets, you may need to provide information about where these assets are located. Additionally, if you want your beneficiaries to split certain assets, you will typically have to name the assets and list the percentages each beneficiary should receive.
In order for a will to be valid, you will have to create it in accordance with your jurisdiction’s laws. In most cases, you will have to sign your will and have a witness or two sign it as well. Your witnesses should usually be people who are not beneficiaries of your will.
One of our editors will review your suggestion and make changes if warranted. Note that depending on the number of suggestions we receive, this can take anywhere from a few hours to a few days. Thank you for helping to improve wiseGEEK!