Are You Thinking Of Writing A Will? Here’s Listed 7 Steps To Help You
It’s a fact that nobody wants to think about their demise and they should not, as life is gifted to enjoy the journey and not to think about the end. Writing your will is totally a different thing, it’s not something that is created to keep on reminding you that you will die. Nope! It’s something that a person willingly creates for the future or their family. It’s not about your death but it’s about your loved ones.
Planning for your worthy wealth is not a bad idea, you need to do it in advance so that your family doesn’t have to face the hardship of sorting out your wealth. Most people feel daunted and afraid by the thought of going through the process of creating a will. So, to make your feel relaxed regarding the process, we have jotted down some of the steps below:
To start with your will writing, follow these steps
1. Build the primary document
You can begin by writing down a title of the document like “ Final Will and Testimony” then add your complete address and legal name. After this, the state in the declaration paragraph that you are of sound mind and of legal age to create this document. Then further add to it that this is your final will and other previously created ones are revoked and make sure to add that you are not creating it under any pressure. We know this sounds really tedious, as you need to remember a lot of points while creating your will. If you are not feeling comfortable in developing it then you can anytime opt for an online will. Here you get the already created document and just need to fill in your details. Isn’t it easy?
2. Appoint an executor
Now what the executor does is, he/she acts as a private representative who will distribute and control your estate assets. Generally, the person who is writing will select a family member or friend as an executor, within the knowledge of your financial advisor or lawyer, just to avoid any further problems. Selecting a family member or a friend as an agent is a very good thought but ensure that they are trustworthy, reliable, and honest.
3. Designate a guardian
In case you are the only parent or your partner it is unfair to take good care of your children, then make sure to appoint a guardian, who can take care of your children properly. If you don’t do that then the court will assign this duty to someone else that might be not of your choice. You will always wish to select someone who is ready to take responsibility for your children and is very close with them and you. One thing is very important and that is the will to happily raise your children till they are 18. Make certain that you take out the time to share this information with your children in the presence of the assigned guardian. This will help them to accept the truth easily.
4. Designate the beneficiaries
Now they are the ones who will be acquiring your assets after your final goodbye. This list may consist of relatives, wives, children, and close friends. Sometimes what happens is when you only use the first name in your will and you already have a known person with a similar name, then this creates a big confusion, hence, it’s always advisable to write the full name of the beneficiaries, so that there is no scope of confusion and misunderstandings. You are free to add any name, just make sure not to add your pet to this list, instead try to assign someone to take care of him/her.
5. Assign the assets
Now is the time to create a list of your worthy assets and start assigning them to people who will inherit them. If you have any sort of problem while assigning the assets then contact your attorney and clarify with him/her. Supposedly you are thinking to disinherit your wife, then consult your lawyer, because, in some state laws, the wife holds the right to get a percentage of your estate. So it’s better to talk to your lawyer before moving further.
6. Request witnesses to sign the will
You need to request two people to sign your will as a witness after the writing of the will is completed. Just make sure that the witnesses are not on the list of the beneficiaries and must be 18 years old. In the presence of them, the will must be signed and dated as well as ask them to do the same at the same time. In some states only a sign of witness is enough, you don’t need to notarize the will, this is known as self-proving.
7. You need to store the will in the safest place
It is very important to store the will in a safe place and make sure that your executor knows where you have stored it. There is a possibility that you need to analyze the will after every 2 to 3 years because of unexpected life changes like death, birth, or even divorce. Make sure you keep it in a safe place and remember where you have kept it.
“It’s as natural to die as it is to be born” but the fact is that we never think about the process, just sit and wait for the end. Now that’s the problem we need to overcome. When we are born, everybody celebrates and our parents start preparing documents for life insurance, so why not consider the same thing when it comes to death, why don’t we make our will beforehand. This is the part we have to think about, make your will, and think of creating a stress-free life for your family afterward. As it has been seen normally that family and friends fight over the property and assets which ultimately spoils the relationship, so it’s better not to wait for it and make your will now.