Every estate plan should include a will. A will has a variety of benefits, but it mainly ensures that you get to make decisions about how to distribute your assets. Wills are easy to amend and create, but you should still work with an estate planning attorney to decide what is best for your assets.
Once you complete your will, sign it with witnesses and continue with your estate planning.
A will is the simplest way to distribute assets among heirs. You will need to note what asset you give to each heir explicitly so the courts and your executor understand your wishes. You can distribute cars, bank accounts, money and even heirlooms.
If you are a parent or even a pet owner, this is a great way to ensure you have someone be their guardian once you pass. If you pass before your children are legally adults, a will notes whether your child goes to a spouse or a close relative. It works the same for a pet. Just ensure that the guardian named accepts the responsibility before you list it legally.
Real property refers to buildings or homes. Transferring this property is different from transferring a piece of jewelry you own. Speak to your attorney about delegating someone to get this property in a will because they may suggest that you create a trust.
After completing your will, place it somewhere safe. Many people choose to keep their will at their attorney’s office or in a safe in their home. It is also common for them to hand legal copies to the executor or a spouse.