If you’ve been researching how to draft a will, then you’ve no doubt realized that there are quite a few important details that you need to keep in mind when you are writing your will.
The last thing you want to happen is that you incorrectly fill out a certain section in your will, so it then becomes null and void.
We’ve mentioned a few of them in our previous blog posts, but let’s take an in-depth look at some more tips, tricks and benefits that will ensure that you’re writing the best will possible. Hopefully some of the making a will advice below will help.
This is for family heirlooms. These are items which may or may not have special financial value but are usually items which you wish specific beneficiaries to receive ownership of.
If you have an old grandfather clock, a military sword, guns, family jewels, or artwork, then you need to specify which people are receiving exactly which items.
You should also include what’s known as a residual legacy. This covers all of the possessions that aren’t specifically listed in the primary legacy.
It may be hard for you to remember all of the details of every specific thing that you own, and the residual legacy will ensure that any forgotten items that remain unclaimed after the will go to a specific person or persons.
If you think back to your own days of youth, you’ll probably remember a time when it wouldn’t have been a wise idea to be running around with a bunch of extra money in your bank account.
If you are leaving anything to younger members of the family, who may be old enough to responsibly handle your possessions or money, then you can specify a particular age when they are entitled to it. Until that age, their portion will remain in the care of your executor.
You need to specify your exact wishes if you have any. For instance, if you own a lot of land and want it to stay in the family, then you need to write in your will that they are not allowed to liquidate the property.
This can also be important when considering what you want your beneficiaries to do with the money that they inherit.
Maybe you want your money to go into a special college fund for a teenager, or you want to be buried in a special place. These are all wishes that you can convey when drafting your will.
Whether you are meeting with an actual lawyer or not, drafting your own will, or using an easy online legal service, we hope that this advice was helpful to you! You can now answer the question, “How do I write a will?” with no problems whatsoever.
Writing a will doesn’t have to be hard, and sometimes the best option is to enlist the help of an online will writing service. All you need to do is decide on your beneficiaries, and let them handle the rest.
If you are an adult, then it's never too early to start thinking about your will. It is important to give your family a sense of lasting peace after you pass away, and is the responsible thing to do if you have a living family and money or possessions to your name.