Instructions on Writing a Will

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An attorney is helpful when writing a will, as holographic wills are often challenged in court. Set up a will that has various schedules with help from a registered financial consultant in this free video on money management and financial advice.

Part of the Video Series: Money Management
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Video Transcript

Having a will in America is very, very important from an estate planning point of view. Many American's don't get involved in wills because it involves the talk about the uncomfortable topic of dying. But if you die without a will, it's called dying in test state, and that means that the will will, your your estate will be handled by the state that you live in and many times, the money will not go to who you intended it to. Therefore it's important to have a will, and you can do a holographic will which is basically your own handwriting as long as it's witnessed by a third party that is admissible in a court of law, although it can be challenged quite easily, and you tend to get what you pay for in life, so I always encourage my clients to seek out an attorney. An attorney will set up a will which will include a durable power of attorney. If you're married, for your spouse to do for you, any financial matters that you can not, will also include a living will which will allow your medical procedures to be executed prior to death if you're, you no longer wish to be kept alive. Various schedules are in the will and it's executed. Normally, instructions for a will, you want to retain an attorney and pay anywhere between three hundred and four hundred and fifty dollars. Then you have the peace of mind that you have a will and your assets can be passed on to your family. This is financial adviser, Patrick Munro, talking about instructions on how to execute a will.

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