Writing a Will
List of Services
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What is a will?List Item 1
A will is a legal document that is created to express your wishes for handling your affairs after you pass away. It can cover your wishes for your funeral, how to disperse your estate, and who will be left in charge of your children if they are under the age of 18.
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What if I don't have a will?List Item 2
If you do not have a will, your assets will go to your closest relatives. This is determined by “intestate succession” laws. If there is no executor named, the state will provide a list of possible executors (usually a spouse, adult children, or other family member). Under intestate succession, typically your spouse, descendants or parents receive your assets.
Some assets are not passed by a will or intestate succession because they have named beneficiaries (ex: life insurance or a retirement plan). Assets without a named beneficiary such as single title properties (ex. your car), belongings, or bank account savings are subject to intestate succession if there is no will.
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How do I write a will?List Item 3
Making a will is not as complicated as many people fear. Many people choose to have a lawyer help draft their will. You can also use software programs, or reference self-help books to help you write it.
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What makes a will legal?List Item 4
A will must be drafted by an adult (at least 18 years of age) that is of sound mind. Beyond that, there are just a few technical requirements to make your will a legal document.
- The document must be typewritten or computer generated.
- The document must expressly state it’s your will.
- You must sign and date the will.
- The will must be signed by at least 2 (in some states 3) witnesses.
- Your witnesses must be people who won't inherit anything from your will.
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Where should I store my will?
Typically, wills are held by the law firm that drafted them or in the residence of the person who made the will. Most law firms will hold a will free of charge. This is a relatively safe procedure and recommended over storing your will in your home.
If you store the will in your home and a fire results in losing your house and your death, there would be no will to divide assets. It is also recommended that you do not store your will in a safety deposit box as in some states they are sealed at the time of death.
Wherever you choose to store your will, make sure it is a secure place and that your executor is aware of its location.
