Today, we’ll be walking you through the steps to create a will in a simple way. It’s surprisingly easy! It doesn’t take long and is an important step for anyone who has assets they want to keep separate from their immediate family.
This will help your loved ones avoid any kind of messy or complicated court process. It also helps with how property is distributed and keeps things simpler for everyone involved.
Note: We’ve put the steps in step-by-step (easy to follow) order, but you needn’t follow them precisely. The main thing is to understand what each step does and pick one that works best for you. That will depend on what you want to do with your property.
Here are the steps to create a will in a simple way:
- Decide what your assets are worth and how much they’ll contribute to your estate.
- Decide who will inherit those assets and in what proportion.
- Name an executor who will carry out your wishes after you pass away.
- Make a list of all your assets, with their corresponding values, so there’s no confusion later on as to what belongs to whom.
- Write a legal will that states what you want done with your possessions after you die so there’s no question about it later on when you’re gone and people are sorting out the estate.
- Keep your will safe and accessible so that it’s available to the executor of your estate if something happens to you.
- Update your will regularly to account for any changes in the people or property involved in your estate.
- If you decide to change your will, use a new will and keep the old one, just in case you need it one day.
- Check if your bank knows what to do with assets that are in safe deposit boxes or other forms of security. Make sure there’s an executor for those who have them.
- Enlist your executor’s help if you have any issues or questions over the estate.
- If you ever need to change your will, update it again and make sure the new one is available to whoever’s piecing together your estate.
Do you want to make a Will?
Perhaps this all sounds like an awful lot of bother. Or perhaps you don’t think a Will is worth the time or effort. You may think that your home insurance will cover everything and you could be right (in part). Either way, it’s good to know what will happen when you die. And having a Will helps make that much clearer.
A Will is the most important thing you can do after the death of a spouse. Without a Will, your property will go to your children automatically. A Will means that the person who has been named as an “executor” for your estate will get all of this property after they have finished carrying out your last wishes.
If you’re not interested in making your own Will, or you don’t want to spend time on it then there are several things you can do to minimize the risks and benefits. You can:
? Leave your doctor or a relative with the power of attorney to take care of your affairs, including getting the best final service for you.
? Get help from an experienced attorney who will draw up a good Will, make sure the property is distributed as per your last wishes, make sure that all debts have been paid and get your property in order. You may do this especially if you have more than one house or a business. People call this creating an “estate plan.
? Have your spouse or someone else who has a close relationship with you draw up a Will. It’s good if they show some knowledge about the property and future generations involved.
? Have your spouse keep the Will safe with them and update it if there’s any change in property or family members. That way, no one will have to deal with confused questions after your death.
? Visit an attorney to see what all needs to be done once you pass away. This is usually the most cost-effective thing to do, depending on their knowledge of the area.
There are a lot of ways that can go wrong with a will. You don’t want any questions about what happened when you die, and that’s where this will makes things easy for everyone involved. This will also mean that the people you’ve chosen to carry out your last wishes won’t have to face any messy court process.
It’s a good idea to take great care with writing this will and make sure that it’s done properly. It’s also a good idea to update it regularly as your assets and your loved ones change.
Finally, you should keep your will somewhere that’s easy to find. That way, if you’re ever incapacitated or pass away unexpectedly, it’ll be there for the people who are responsible for carrying out your last wishes.
That’s pretty much it! It’s that simple! Hope you’ve enjoyed reading my article and found it useful. If you have any questions, please post them in the comments section below and I’ll get back to you.