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by on November 9, 2022  in Legal /
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Wills can be complicated or very simple. Many of us can get away with having a very simple will. However, if you want more control over your assets, a living trust may be considered.

 

Several things should be part of a well-written will:

 

First: A description of yourself. This description must be detailed enough to be clear regarding your identity. The will must clearly be your will and not possibly someone else’s. Avoid any confusion.
 

Second: Your executor. Someone must carry out the instructions of your will. Include a backup, just in case. It goes without saying that it should be someone you trust. It can be a good friend, family member, or attorney.
 

Third: A list of your beneficiaries. Normally, this would include your spouse, children, and any institutions or charities to you wish to leave part or all of your estate. It can also include non-family members.
 

Fourth: The distribution of your assets. This can be as simple or detailed as you’d like. You can give your tools to your brother, your beer can collection to your uncle, and your golf clubs to your son.
 

Fifth: Instructions for the care of any minor children. Whom do you want to care for your kids if both you and your spouse are gone? Ensure the other party agrees with this arrangement!
 

Sixth: Choose someone to handle your children’s property. An underage child requires a property custodian.
 

Seventh: Ensure that the will is signed in front of at least two witnesses. Getting your will notarized is always a good idea.

 

Also, avoid handwriting a will, as it may cause challenges later. And ensure that your executor knows the location and can access your will. It’s even a good idea to keep a copy in a different location, just in case.

 

And don’t hesitate, because, without a will, the government will distribute your assets for you in accordance with the laws of your state.

 

All said and done, it’s a good idea best to see a qualified attorney to ensure that your estate is handled according to your wishes.

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The information, views, and opinions provided or expressed by authors or publishers on WealthCare Blogs are for general education and entertainment purposes only. No advice or recommendations are provided. You should consult with an appropriately licensed wealthcare professional or do your own due diligence before making any wealthcare decisions.

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All content is for general informational purposes only and does not constitute advice. Consult with a licensed professional before making any wealthcare decisions.
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