Writing a will is a crucial step in ensuring that your assets and belongings are distributed according to your wishes after your death. However, many people tend to put off writing a will because they find it overwhelming or morbid to think about. In reality, writing a will can provide peace of mind and ensure that your loved ones are taken care of after you are gone. In this blog post, we will discuss the dos and don’ts of writing a will to help you navigate this important process.
Dos:
1. Do Seek Professional Help: While it is possible to write your own will using DIY kits or online templates, it is highly recommended to seek the help of a professional estate planning attorney. A lawyer can help you navigate the legal complexities of writing a will and ensure that your wishes are properly documented and executed.
2. Do Clearly Outline Your Wishes: Be specific and detailed when outlining how you want your assets and belongings to be distributed. Include all of your assets such as real estate, bank accounts, investments, and personal belongings. Clearly state who you want to inherit each asset and any specific conditions or instructions you have.
3. Do Update Your Will Regularly: Life changes such as marriages, divorces, births, deaths, or changes in financial circumstances can all impact your will. It is important to review and update your will regularly to ensure that it accurately reflects your current wishes.
4. Do Include Guardianship Provisions: If you have minor children, it is crucial to include provisions for their care in your will. Designate a guardian who will take care of your children in the event of your death and ensure that they have the necessary resources to do so.
5. Do Consider Contingency Planning: In the event that your primary beneficiaries predecease you, consider naming alternate beneficiaries to ensure that your assets are distributed according to your wishes.
Don’ts:
1. Don’t Procrastinate: While it may be tempting to put off writing a will, it is important to not procrastinate this important task. No one knows what the future holds, and having a will in place can provide peace of mind for you and your loved ones.
2. Don’t Rely on Verbal promises: Verbal promises or informal agreements are not legally binding when it comes to distributing your assets after your death. It is crucial to have a written will that clearly outlines your wishes to avoid any confusion or disputes among your beneficiaries.
3. Don’t Forget to Sign and Date Your Will: In order for your will to be legally valid, you must sign and date it in the presence of witnesses. Failure to do so could render your will invalid and lead to uncertainties regarding the distribution of your assets.
4. Don’t Forget to Inform Your Executor: Your executor is the person responsible for carrying out the instructions in your will. Make sure to inform your chosen executor of their role and provide them with a copy of your will so that they are prepared to act when the time comes.
5. Don’t Keep Your Will a Secret: It is important to inform your loved ones of the existence of your will and where it is kept. This will ensure that your wishes are known and can be carried out after your death.
In conclusion, writing a will is an important and necessary step in ensuring that your assets are distributed according to your wishes after your death. By following these dos and don’ts, you can navigate the process of writing a will with confidence and peace of mind. Remember, it is never too early to start planning for the future, so don’t delay in writing your will today.
