How to Write Wills
Writing a will gives you control over what happens to your assets when you die. A will is the best way to avoid having your estate tied up in probate for months or even years afterward. If you die without a will, it is up to the state to decide how your estate is divided, along with who will raise your minor children. Here are the basic steps to follow in preparing a last will and testament.
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Instructions
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Make a list of all your assets including any real estate, stocks, bonds, retirement investments, bank accounts and personal property. Include only those things that you own individually. Any jointly owned assets will automatically go to the surviving owner, although you should name a beneficiary in case that person dies at the same time.
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Name an executor of your will. This is the person who will be responsible for settling your affairs and carrying out your final wishes. Since the person must see that any outstanding debts and bills are paid and final local, state and federal income tax returns are filed, you might want to choose someone who understands finances. Many people select a spouse or adult child to act as the executor, but in some cases, attorneys or banks are named as executors. You may want to name an alternate executor as well.
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Appoint a guardian for your minor children. Talk to that person in advance to make certain that he agrees to take on this responsibility. Inform her about any financial resources such as a life insurance policy or trust intended to help support your children if you die prematurely. You should also include provisions in the will relating to your burial.
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Include any charities in your will to which you wish to make a bequest. Leaving even small donations from your estate to charities can help make a huge difference to the causes you support.
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Hire an attorney to draft the will, putting your wishes in writing. Check carefully for any errors before signing the will. Make sure that the document clearly states your intentions. Although most states do not legally require that a will be notarized, it is recommended.
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Select witnesses to sign the prepared document. These individuals should not be beneficiaries named in your will. In most states, two witnesses are required to acknowledge your signing of the will. Some attorneys suggest that you choose three witnesses to sign your will in the event that someone moves away or dies. Each witness must be at least 18 years of age. A witness must actually watch you and the other witnesses sign the will.
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Tips & Warnings
Review your will periodically. Marriage, divorce, the birth or the death of a beneficiary are common reasons for making changes to a will. Once changes have been made, destroy copies of any previously executed wills.
