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Will Writing there are few pieces of paperwork that you need to be absolutely perfect and correct-but your will is most certainly one of them. It may not be easy to get started, but thankfully it can be easy to find many resources. Writing your Last Will and Testament will not only provide relief and save your loved ones the confusion and stress of deciding things such as your funeral and burial services, etc.; also, it will also ensure that you are dividing your assets properly and passing them on to the people you truly want to give them to.
Firstly, you will want to make a list of all your most significant assets, also known as your “Estate”. Making a list of all valuable assets you own will make sure that you’re not accidentally leaving any significant property out of your will. Things to consider including in your will include:
-Real property, such as real estate, land, and buildings you may own
-Stocks, bonds, royalties, copyrights, patents, and any other forms of business ownership and/or intellectual property.
-Cash, which would include money placed in savings, checking, and money market accounts -Valuable items such as jewellery, artwork, furniture, cars, etc.
-Proceeds of a life insurance policy for which you’ve named a beneficiary.
-Money held in a pension plan.
Once you have listed all of your valuable assets, you will want to divide this property among your beneficiaries-these are the family members and/or trusted individuals you will be transferring your assets to upon your death. Most people choose to appoint their spouses or children, but this may not always be the case. Some choose to leave certain assets to charities or other similar organizations. You may also want to consider appointing alternate contingent beneficiaries, in case your first choices do not outlive you. If you have children under the age of 18, you will also want to decide upon a guardian that will look after your children in the event of your death.
In your will, you should also describe your wishes in terms of your funeral and burial arrangements. You will also be appointing an executor within your will. An executor collects the estate of a person when they pass away, discharges any liabilities of the estate and distributes the remainder of the estate among the named beneficiaries. In your will you should appoint at least one executor (usually a family member or friend), although it might be a good idea to appoint more than one executor just in case one of them cannot perform the role.
Once you are finished writing your will, you may want to consider having a solicitor review it. Make sure to sign the will in front of a witness. Most importantly, store your will somewhere safe and make sure you inform any beneficiaries as to the wills location.
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Thanks for posting this. It's something I've been meaning to get to for a while now. I'm still young but it's not a bad idea to get it out of the way.
- Edgar Lowe | 3 months, 4 weeks ago