Do you really need a will? I know this is a tough subject to deal with, but no matter what stage in life you are in, you have to prepare for the what-ifs of life.
A will ensures that whatever assets and personal belongings you have will go to the people you wish. If you have children, a will can stipulate who will become their legal guardian. If you die without a will, your assets will be disbursed according to the laws of the state.
It is quite easy to draft up a will. You can use online legal software or you can consult a lawyer to assist you.
In the very least, your will should:
- appoint a guardian for any minor children
- appoint an executor to carry out your wishes and handle any financial matters
- spell out exactly how you want your assets disbursed
When listing your assets, be sure to include:
- Bank Account names and account numbers
- Mortgage Account names and account numbers
- Investment accounts and account numbers
- Life Insurance policies and account numbers
- Retirement accounts and account numbers
- Business ownership information
- Jewelry appraisals
- Vacation Property information
- Artwork, Antiques, Furniture
- Any other personal property you may have
- For online accounts, include the website address and sign on information
If you decide to complete your will online, be sure to have it signed and witnessed to make it legal and binding.
After completing your will, let family members and your executor know where the will is kept.
I know this is a hard subject to deal with, but hopefully, this post will get you pointed in the right direction to completing a will so your wishes can be carried out the way you would want them to.
Related Articles: