Writing a will is essential if you want to ensure your possessions are passed on according to your wishes once you’re no longer around. This will give your loved ones assurance and avoid future conflict. It will also reduce the risk of expensive, drawn-out litigation that will destabilize your estate. However, for your will to be enforced, there are specific fundamental guidelines that you will be expected to obey. The following are five steps to make a legally binding will.
Be Sure That You’re Legally Competent
The first thing you do when making a legally binding will is ensure you are legally entitled to do so. It includes being of your right mind and having a level of awareness concerning the consequences of your choice made within it. In most areas, you must also be at least 18 years of age to create one.
Before you write your will, ensure you clearly understand the nature of the will you are writing. In case of doubt, it is recommended to consider using the services of a professional attorney to ensure your wishes are well recorded.
Record Your Assets and Beneficiaries
Make a comprehensive list of your possessions including property, bank accounts, investments, and personal items. Identify who will inherit each of your possessions. Be specific about the amounts and products so that there will be no misunderstandings in the future.
Make sure you name the people who can utilize the assets wisely. You should also name a trusted person as their custodian if you have children. Naming the beneficiaries explicitly minimizes the likelihood of future disputes.
Get Legal Help
Although writing a will might be easy enough, it’s always best to consult professional help so your paper is formally written. Your professional attorney will counsel you on the best way to write your will based on state laws. For instance, a skilled estate planning lawyer in Friendswood will advise you on how to avoid common mistakes, such as omitting key clauses.
An estate planning lawyer can help ensure your will is correct and your wishes will be fulfilled. They can also advise you on reducing potential taxes or legal complications for your beneficiaries, offering added security to your estate plan.
Name an Executor
An executor must see that your will is carried out as you desire upon death. That person has to be someone you trust and strong enough to take care of your property. You would prefer to appoint an organized, detail-oriented person who can make decisions for your property.
Ensure that your selected executor is willing to act in that capacity. It is thoughtful that you discuss it with them beforehand. You must select an alternate if your first option can’t or won’t act.
Sign Your Will Properly
Your will must, if practicable, be signed before two or more witnesses who are not beneficiaries under your will. The witnesses must say that you are voluntarily signing the will and are of sound mind. You might also be obliged in certain jurisdictions to have your will notarized. Notarization is unnecessary, but it might offer an added sense of authenticity.
Endnote
Writing a valid will is likely the most crucial way to see what you want done to happen upon your death. By doing the correct things, such as making sure you are legally competent, citing the law, and legally signing your will, you can write it to stand up in court. Writing your will according to the law can keep your loved ones from enduring unnecessary stress and confusion during a difficult time.