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How To Write A Will

How to create a will?

When it’s time to pass on your estate, create a last Will and Testament. Include your full name and address.

This is the most important paragraph in your will. It has to say something about your age, whether you are legally responsible for your actions, and whether you are sound mentally. Age is an important factor because older people are more likely to make bad decisions when they’re unwell or stressed.

Revoke your prior will and codicil and that you are not making this will under duress.

The beneficiaries should be named while writing a will:

Beneficiaries are the people who stand to inherit your assets after you die. Your beneficiaries may include your spouse, children, relatives, and close friends, among others.

It is very important that you name them correctly when writing your will so that when your estate is divided after your death, your beneficiaries receive what they deserve.

You should ask witnesses to sign your will:

While writing a will, it must be witnessed by two adults who have signed a legal document, known as a power of attorney, setting out the terms of your estate.

If the two adults cannot agree on who will serve as a witness, a third person may be appointed. This is known as a proxy witness. The will should be signed and dated by both parties.

It should also name alternate trustees to administer the estate if one or both of you dies before making an effective gift of your estate.

Update your will whenever it is necessary:

Often we might not think about updating our wills or estate planning documents. But a will can make a world of difference to a loved one. It can give you and your family a great deal of power over your life without having to buy a lot of expensive paperwork.

If you’re planning on leaving money to your children or to a college education, make sure you look into revising or updating your will.

Perhaps the biggest mistake people make before doing so is not updating their will. When there is a change in family statuses such as a divorce or the death of a loved one, it is often difficult to know what to do.

Will adjustments might include giving gifts to extra family members and/or changing the second or third names on the will. In some cases, changing the gifts or even the anniversary date could be necessary.

Be sure to make copies of your will and keep them safe:

Make copies for yourself so you have them as proof in case anything happens to your original will. Store your copies in a safe place ideally, in a fireproof location that will remain locked when not in use and make copies of all documentation including the original will.

This way if anything happens to your original will, you have backup copies to fall back on.

Your loved ones will need to know the location of your Will and how to retrieve it if it is lost or destroyed.