Writing your own will or last testament may seem complicated, with what all the legal complications of our modern world. However, as long as your possession of finances and assets is not complicated, writing your own will is a relatively straightforward task. The only major guideline for any written will or last testament is that they have to abide by the laws in your state.
That said, it does help to know the best legal practices when making a will. You can hire an attorney to help create your own will, but if this process takes too long or is beyond your financial capabilities, it is entirely possible to create your will yourself. These can be done typically through an online website that generates your will. Other than that, you can type the will out yourself as well. If you plan to write your will yourself, there are some basic procedures you should follow. We list them down below. You can even make a will online free
Write your Basic Information
Whether you are writing your own will or generating an online will, it is important to enter your basic information such as name, address, family members and date of birth. Do double check these facts for small mistakes or typos as these will become the basis of your identification. Anything left out may have adverse effects that may impact your loved ones. Your name and other details should match what is written your identification card and passports.
Identify your Legal Heirs
The purpose of your will is to ensure that your assets are handled properly after you pass away. To whom these assets will be allocated to depends on who you name. Your legal family includes your children and spouse. If you want your assets to be allocated to someone else as well, you will have to specify them in your will. Make sure that whoever you have addressed is absolutely that person and that their identity is not ambiguous. Additionally, if your children are not of age, you may want to name a guardian for their care if you are the last legal parent.
Appoint an Executor
As the name suggests, an executor will carry out what is written on your will. You should carefully consider who to appoint as an executor. Typically this can be a spouse or any other very close family member, although a capable friend is also possible. Talk to this person before appointing them, and make sure that they will fully commit to the task. Make sure that they are fully sound of mind and a person that you can trust.
Breakdown your Asset Division
Here you specify what you own, to whom you will allocate it to and how much (if there is a percentage). Include everything you own from real estate to bank accounts, stocks and any other investments. Note down how much you are willing to allocate to each heir, i.e., 25% to your wife, 20% to your daughter, etc. You can also make individual bequests of specific pieces of property or cash amounts to individuals other than your named heirs.
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