Your will is a vital tool in your estate plan, and if you do not have one, you should create one. When you create a will, you should make sure you include all the right things, and a lawyer can assist you with this. Here are four things a will should always contain for starters.
The Name of the Executor
Do you know what an executor is? If not, you might not realize how vital it is to include one in your will. An executor is a person you name in your will to handle settling it after your death. The executor has a vital role in the distribution of your assets, and in making sure that he or she does things according to your wishes. Because these duties are essential, you should choose a person you trust completely. You may want to select a family member, such as a child, or you could choose a close family friend.
A Guardian for Your Kids
When you write your will, you should also include the name of a guardian if you have young kids. A guardian is a person you would want to be the caregiver of your kids if you died. As you think about your kids and the people you know, who would you feel the most comfortable with for this duty? Whoever you pick should be someone you trust, and you should ask the person before you name them in your will.
Next, you must add the names of the beneficiaries that you choose for your assets. When you die, you will leave all the things you own, and you can choose who gets these things. Make sure you clearly list how you would like your executor to distribute them when you die.
Instructions for Your Wishes
The fourth thing to include in your will is instructions to your family and loved ones. For example, do you want to be buried or cremated? You should decide on this and write it in your will. Do you have specific wishes for your home, funeral, or children after you die? You can write down any wishes you may have in your will, and your family must attempt to meet the wishes as much as possible.
Do you need help writing a will and knowing what to include? If so, talk to a lawyer that offers estate planning services to learn more.