The only way to know for sure that all your belongings, business, money and property are given to the right people and to those you choose, is by making a will. Preparing a will is a complex and emotional task. However there is a step by step guide on how to prepare a will to make it easier for you to prepare the will and understand the process.
- Get your assets valued:
Before you start preparing your will, it is better to have a clear idea of all your assets and debts. Assets typically include, your home or work site, investments, bonds, vehicles, furniture and jewelry. It will give you the precise idea of how much you own if you find out the value of each thing.
- Choose your executors
You have to choose the people who will distribute your possessions among your loved ones after you die. Before writing a will, you should select an executor. An executor requires a lot of work to do; therefore, choose the person wisely.
- Decide if you want to write yourself or need an attorney
If you have limited assets, it is okay to write your will yourself but if you have assets of millions of worth, then it is better to hire an attorney or will specialists. The experts know how to write a detailed will.
- Be sure about who would get what
It is not easy to distribute your belongings and money equally among children. That’s why it is not bad if you would ask them what they prefer. It will result in zero problems during distribution of assets after your death and everyone will get what you appointed for them.
- Attach a personal letter
Wills are legal documents and they can not have personal information like your final words. Therefore, it is better to attach a letter with all your wishes and last words.
- Find witnesses
You have to find at least two witnesses to sign your will so that witnesses can prove that your will is authentic if there would be a court proceeding after your death. The witness must be 18 years old or older.
- Store your will at a safe place
The last step to prepare a will is to keep the document at a safe place that you could remember so that you don’t forget it later on. When your loved ones are looking for that document, they should be able to find it if it was saved with all your legal documents.