7 Things Your Will Needs To HaveThursday, December 23rd, 2021, 4:02 pm
As a testament, the will is a legal document stating a person´s final wishes following their death. With that, it is considered to be a major part of the individual´s estate. Although the will can be created by the individual, it can also be produced with the help of an attorney specializing in estate planning. No matter the manner in which your will is created, it needs to be fully complete and cover every single wish. With that, here are 7 things your will needs to have.
This is where you will be declaring the document as your last will. It is found on the first page of the will and involves identifying you as the testator and your intent of creating your will.
The executor is identified as the legal representative in charge of taking care of final business matters. With executors, their role is crucial when it comes to executing the will, which should include the following:
- Secondary executor
- The executor´s powers
- Requiring a bond to guarantee compensation
- Digital executor for online affairs
- The executor´s compensation
By having a guardian named for minors, you can avoid state intervention and naming one for you. The last thing you need is for your children to be played as a pawn and misguided. This guardianship is also a good idea for any pets you care for.
The bequest is where named individuals receive property through the will. These could involve estate distributions, clauses for survivorship, gifts, clauses for no-contest, or disinherited individuals. Keep in mind that each state may be different when it comes to the provisions.
The Final Arrangement
Your will is also where you can explain how you want your final arrangements to be. This could include instructions governing:
- Any ceremony or funeral
- Cremation or burial
- Any attendees
Verifying the Will
Make sure to check with your state laws to ensure that the will needs to be verified. If it does, then you will need to sign it in front of a notary and include a witness.
Once your will is completed you need to make sure it is reviewed and changes are made if needed. Not only that but you need to make sure that the executor will have a copy and the will remains accessible to them.
The will is considered a crucial part of all estate plans, and it should include every identifiable piece of information. It is also important to know how a will needs to be planned and carried out. That is why when you contact our office, we´ll go over every detail of the will and explain its importance to your estate