Do you feel like it is time to create a will, but you're not sure what to include in it? You'll definitely want to think about the following items before you sit down with a lawyer.
Everyone needs to have an executor of a will, who is the person that is going to oversee the will being carried out if you were to pass away. An executor should be somebody that you trust with the responsibilities of handling your estate since they will be making a lot of important decisions after you pass away. Many people decide to have their child as an executor, but it can be anyone that you want.
If you have children that are still minors, then you'll need to decide on who has guardianship of your children. Without a guardianship designation, family members can end up arguing about who is going to be responsible for your child. Just make sure that the guardian is willing to take on the responsibility since naming somebody that is not prepared can decline their guardianship.
Physical Asset Distribution
Asset distribution doesn't have to be something complicated where you list all your belongings and who they go to. Sometimes it is as simple as selecting the person that will inherit all your assets. Just make sure to list any needed limitations on asset distribution, such as what happens if your child inherits assets if they are a minor.
Chances are that you have many digital accounts that you want taken care of after you pass away. It's a good idea to list those accounts, as well as usernames and passwords, so that someone else can take over them. For example, you may have bank account information that you want to be easily accessible, or a social media profile that you want someone to update.
Want to make a donation after you pass away? You can decide how much of your assets will go to the charity of your choice. The executor will be the one that follows through with this request since they are the one that handles all asset distribution.
Have a specific desire for what you want your funeral to be like? It's a good idea to put it in your will so that your loved ones know what your wishes are. Just make sure to tell your executor that you have funeral instructions in the will because it's possible that nobody will look at the will until after the funeral.
Contact a wills attorney near you to learn more.
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