Before sitting down to create a will, one of the first steps is to list out your assets. According to a will lawyer, this includes real estate, vehicles, bank accounts, retirement plans, and personal property with sentimental or financial value. Having a clear picture of what you own helps you make thoughtful decisions about how everything should be distributed. It also helps prevent confusion or disputes later among those you leave behind.
Think About Who You Want To Provide For
A will allows you to name specific people or organizations that will receive your property when you pass away. It’s worth taking the time to consider your spouse, children, extended family, close friends, or even charitable causes that matter to you. For parents of young children, it’s especially important to decide who you’d trust to become their guardian. Naming a guardian in your will can provide peace of mind for your family and avoid legal battles in the future.
Choose Someone You Trust To Carry Out Your Wishes
A personal representative, also known as an executor, is the person you choose to manage your estate. This includes paying off debts, collecting assets, and distributing property according to your instructions. You should pick someone responsible, organized, and willing to handle the legal and financial responsibilities that come with the role. You may also want to name an alternate, in case your first choice is unable or unwilling to serve.
Be Aware Of How Other Documents Affect Your Plans
Not all assets are controlled by your will. Life insurance policies, retirement accounts, and certain bank accounts often have named beneficiaries. These accounts pass directly to the listed beneficiaries, regardless of what your will says. It’s smart to review and update those designations so they reflect your current wishes. Attorneys like those at our friends at Silverman Law Office, PLLC, can attest to how often these details get overlooked, which can cause problems for loved ones down the road.
Store Your Will In A Safe But Accessible Place
Once your will is complete, it needs to be stored somewhere secure. A fireproof safe at home or a safe deposit box are common options. You should also tell your personal representative where to find it. If the will can’t be located after your death, it might be treated as if it never existed. That’s why good communication now can save your family stress later.
Talk With A Professional Before You Finalize Anything
Creating a will is a personal process, but it also involves legal and financial issues that are easy to overlook. Getting guidance from a will lawyer who focuses on estate planning can help you make informed decisions, avoid mistakes, and make sure your wishes are carried out correctly.
If you’ve been putting this off, now is the time to take that first step. Reach out to a trusted legal professional who can walk you through it, one decision at a time.