Undoubtedly, there will come a time in your life when you must start thinking about what is to happen once you pass on. Some people decide to create wills after going through major life events, such as getting married or having a child, and others choose to do it once they reach a certain age or stage of life.
Regardless of your reasoning for doing so, creating a will is a wise decision, as it gives you power over where your assets will go after your passing. The following tips may help you get things right the first time and avoid some particularly common mistakes. So, before you create yours, consider the following.
Learn the requirements
Different states have different requirements when it comes to creating wills. Before you make yours, find out the rules. Do you need to have the document notarized? How many witnesses must sign it for it to be valid? Make sure your will adheres to the specific guidelines set in your state to ensure legal validity.
Consider hiring a professional
A will is a highly important and legally binding document, so it is important that you take the time to make sure to do it right. Wills also require careful wording and forethought, so many people find the guidance of someone seasoned in wills and estate planning critical.
Take care in choosing an executor
The executor is the person who sees carries out the wishes expressed in your will in your absence, so it is important that you reserve this role for someone with whom you share a considerable amount of trust. It is also wise to choose someone who lives relatively close to you geographically so they can manage your affairs with minimal travel, stress or strife.
Once you draft your will, make sure your executor and others know where to find it. For someone to know how to carry out your wishes, they must know exactly what they are, so this critical step ensures your efforts are worthwhile.