There are many legal options you will want to consider when creating a will. You should discuss your will with your family, choose a ‘testamentary agent’, and decide what you want to happen to your assets. So, here are the top 5 things to consider before writing your will!
- Choose an executor
When you are writing a will, you have to decide who will be the executor and what responsibilities they will have. If the executor dies before you, the court can appoint someone else to undertake your wishes. There are situations where the executor is prohibited from selling or transferring part of your property and another person is appointed instead.
- Make a list
If you have different types of assets and investments, you can decide what to do with each one. It’s important to keep a list so the executor can follow the wishes. You can also decide which assets you want to be removed from your will. This will avoid any disputes about who is entitled to which assets. Your list should also include how you want your beneficiaries to receive the assets.
- Make your intentions clear
Even though your executor will do their best to follow your wishes, you should be clear about what you want to happen with your assets. This can save time and money during the administration process. You should also choose a person who is able to carry out your wishes. In addition, you should also make a notary public aware of your intentions, so they can let you know if there are any problems.
- Address funeral arrangements
You should also choose an executor who can carry out the funeral arrangements for when you die. This will avoid confusion and save time if you need to appoint someone else to perform the funeral service. You should also write down how much money you want your beneficiaries to give to the funeral arrangements.
- Store your will in a safe place
Once you have decided to create a will, it is important that you store it in a safe place. If your primary residence is destroyed by fire or if there are no survivors, you should make copies of your will and store them in different places. You should also choose a person who can find all the copies of your will and put them together so they can be executed.