A lot of people put off writing a will because they think it’s going to be complicated and time-consuming. They also think that they don’t have enough assets to warrant writing a will. But the truth is, writing a will is not complicated and it doesn’t have to take a lot of time. And everyone should have a will, regardless of how much they have in terms of assets.
If you’re thinking about writing a will but aren’t sure where to start, here are ten easy steps to follow:
- Decide who will be your executor. This is the person who will carry out your wishes after you die. Choose someone you trust who is organized and capable of handling this type of responsibility. You can also name more than one executor.
- Make a list of your assets. This includes everything you own, such as your home, car, bank accounts, investments, life insurance policies, and personal belongings. You’ll need to know the value of your assets so that you can properly distribute them in your will.
- Decide who will inherit your assets. This is probably the most important part of writing a will. You’ll need to think about whom you want to receive your things from after you’re gone. It’s up to you to decide how to divide up your assets, and you can change your mind at any time.
- Choose a guardian for your minor children. If you have young children, you’ll need to appoint someone to take care of them if something happens to you. This is a big responsibility, so choose someone you trust wholeheartedly. You can name more than one guardian.
- Make sure your will is properly signed and witnessed. When you’re writing a will in Fort Worth or elsewhere, be sure to use formal language and have it notarized for extra protection. Aside from that, it must be signed by you and two witnesses for your will to be legal. The witnesses cannot be related to you or beneficiaries of your will.
- Keep your will in a safe place. Once your will is complete, you’ll need to store it in a safe place where it won’t get lost or damaged. Make sure your executor knows where to find it. You can also keep it with a lawyer, bank, or trust company. This ensures that it will be easy to find when it’s needed.
- Review your will regularly. You should review your will every few years to make sure it still reflects your wishes. As your life changes, you may need to make some changes to your will. For example, if you get married or divorced, have children, or acquire more assets, you’ll need to update your will.
- Be prepared for the cost of probate. Probate is the legal process of authenticating a will and distributing a person’s assets after they die. It can be costly and time-consuming, so you’ll need to be prepared for it. You may want to consult with a lawyer to learn more about probate and how to avoid it.
- Make sure your beneficiaries are up to date. Your beneficiaries are the people who will inherit your assets after you die. You’ll need to make sure that their contact information is up to date and that they’re still alive. If one of your beneficiaries dies, you’ll need to appoint a new one.
- Get help from a lawyer. If you’re not sure about any of the steps involved in writing a will, it’s best to seek professional help. A lawyer can answer your questions and make sure that your will is legally binding. They can also help you avoid common mistakes that people make when writing a will.
Writing a will doesn’t have to be complicated or time-consuming. Just follow these ten easy steps and you’ll have everything you need to get started. And if you have any questions, be sure to consult with a lawyer to get expert advice.