You must have the will to write a will. 68% of Americans lack a will.
Dying without one can cause long court battles and arguments amongst family members. Yet you can write a last will and testament with minimal assistance.
How exactly should you write your will? What should you include in the document, especially about your finances? How should you edit your will through time?
Answer these questions and you can understand what to write in a last will and testament in no time. Here is your quick guide.
Figure Out How You Will Write Your Documents
You can write a will without a lawyer. You may need to rely on a last will and testament template in order to do so. You can write the will without a template, but it may not stand up in a court.
It is a good idea to contact a lawyer, even if you will not write the document alongside them. They can give advice on what points to touch upon in your will. They can let you know about the supplies needed to draft one.
Break Down Your Assets
You must describe all of your financial assets in your will. If you don’t have a good idea of your finances, get financial statements from your bank and employer.
You can delegate your assets however you see fit. You can make certain assets conditional, requiring people to graduate from college in order to receive them.
Be Precise
You should be precise when it comes to describing your finances. But you need to be precise about a lot of other things as well.
Your will should begin with a declaration that it is your last will and testament. You must nullify any other wills you have written. You must mention that you are writing your will with a sound mind and under no duress.
Describe what you would like others to do with your remains. You can mention that you would like burial or cremation. You can detail where you would like your remains to go.
Edit Your Will After Major Life Events
It is essential that you update your will through time. If you get divorced, you should change your distribution of assets right away. If a beneficiary dies, you should also change how your executor will distribute your belongings.
You should consider making a change if you acquire a lot of money or property. You can attach an amendment to your document instead of writing a new document. This prevents you from having to find new witnesses for your new will.
How to Write a Last Will and Testament
You can write a last will and testament today. You can write one on your own, but you should study writing a will. Follow a template if you need guidance.
Write about your financial portfolio and delegate all of your assets. Be specific in who gets what and describe other things you want to happen.
When your life changes, your will needs to change. You can attach amendments for easy fixes, especially when you get new assets.
Writing a will is one legal preparation you must make. Find out more by following our coverage.
