If you pass away before drafting a will, the state law will be what decides where your assets will go. But writing a will can be difficult if you don’t know what to consider.
No one wants to think about what will happen they die. But you’ll give yourself and your family peace of mind when you take care of these things before you die.
Keep reading to learn the most important things to consider when developing a will.
1. Who Will Execute Your Will?
First, you need to decide who will be responsible for handling your estate. Pick someone who you trust and someone impartial, if you can. A husband or wife may not be the best choice, in case you wind up filing a divorce.
Talk to this person before you make them the executor of your will. It’s important that they accept and understand what you want them to do. Let them know where your important documents are, as well.
2. What Property Do You Have?
If you own property and you want to give it to someone specific after you die, make sure you label that specifically in your will. It covers your physical property, your financial assets, and the land you own as well.
If you own something jointly, you can only give your share to someone else after your death. They won’t own the property entirely.
3. Who Are Your Beneficiaries
The beneficiaries of your will are the people who will receive your property. Generally, the people closest to you are the ones who will get your property. It’s expected that, if you die, your spouse will get all of your belongings.
But no one can predict how they’re going to die. What if your spouse dies with you and neither one of you have planned for where your property will go?
Take the time now to plan.
4. How to Choose a Guardian for Your Children
In the event that both you and your child’s other parent die, you need to have a plan for where your children will go. Allowing the state to decide who will gain guardianship of your children could mean extra trauma and unnecessary headaches for your children.
Talk with your desired guardian ahead of time and make plans, both legal and otherwise, to ensure they’re taken care of in the event of your death.
5. Protecting Your Digital Legacy
If you’re reading this, there’s a good chance that you live a good portion of your life online. You have a whole social media portfolio to consider. Some websites have built-in features that will help your loved ones handle your pages after you’ve passed, but make sure you let your loved ones know what your post-death wishes are for your social media accounts.
Get Help Drafting a Will
Drafting a will doesn’t have to be a difficult process. As long as you make sure to include all of your property and follow all of your local, state, and federal laws surrounding wills, you should have no problems.
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