How to write a will may seem difficult. but if you have a simple estate is quite simple. It is recommended that you a familiar with the legal language prior to attempting to draft the Will. If you are using an online kit or template, the majority of the work has already been completed by someone else.
If you decide to write your will, make sure you are familiar with the legal requirements of your country and state/region before you begin any other work. Every state and country could have laws that differ regarding will and estates, and your document will more than likely meet these standards before it is deemed valid.
Wills written with ink are called “holographic wills.” All states may not recognize holographic wills and might quickly be ruled invalid by a court. Due to this, we do not advise handwritten wills to be your final version of your own will.
How to write your own will
With careful planning and preparations, it is possible to write your own legal will. Below is the list of the most important information you will need to include in your will.
Create a simple title
It is easy to ignore this simple detail, but it’s crucial as it will be apparent to anyone who sees your document that it is your last will or testament. Make sure you include your full legal name in the middle of the will and any other names you have used before. If you have created the previous version of the will, be sure to state that the current version invalidates any previous version of your will
The executor of your will
This information is very crucial as the executor of the will is someone who will ensure that your estates or belongings are divided and settled according to your will. You have to select someone you are confident in. You can also select a backup executor so that you can protect the will for the maximum interest of the beneficiaries.
Name a guardian for any minors
If you have children or guardians for any minors, you must identify the name of the guardian. The person named as the guardian has full physical and legal control of your children after you depart the earth.
Guardianship usually passes automatically to the surviving parent in the event that the parent is deemed capable.
Organize and track your assets
Assets are any items that are clearly yours or registered in your name. Pets, personal belongings as well as property and cash are all considered your assets.
Make sure to be specific about each asset so that when the executor is transferring the asset to its designated beneficiary, there will be no doubt regarding its authenticity.
Make sure you check with your state regarding which asset you are not allowed to include.
Investment accounts or trusts, for instance, are typically not considered to be your primary asset and are passed directly to the beneficiaries you have designated on the account.
The beneficiaries should be named
For each asset you own, identify a beneficiary – the person, non-profit or profit organization or any other entity that will be able to receive the asset(s) after you die. You may choose more than one beneficiary.
If you know of someone who is not eligible to receive the item in question, be sure to identify them in addition.
Write your residual clause
A residual clause includes everything that is not left for a particular beneficiary or not properly identified or forgotten when the asset section of the will was made.
You may choose to give the “remainder” to the beneficiary or the executor that will handle your will. Please do not overlook the importance of this clause, you might likely forget some of your possessions, especially when it’s your first time writing a will. A residual clause can be adequate security to allow you to cover all your possessions in your will.
Make your will signed by witnesses
Check with your state requirement prior to signing in the event that various states have different requirements for the number and identity of witnesses. Certain states might require that you get the will to be notarized.
A will is not legally valid until it is witnessed by witnesses.
Keep your will somewhere secure and make changes as required
Let somebody, especially your executor, know where to locate the most current version of your deed.
Make sure you review and revise it every time you go through major life changes: moving (especially, since your will might not be in compliance with the new laws of country or state) or major property purchase, divorce, marriage or death and even your children turning the age of adulthood are all good reasons to revisit your will.
It could also be an excellent idea to schedule an interval every two years or so to review your will, even if no major changes have occurred in your personal life.
You might be surprised by the assets you deemed significant enough to be able to talk about two years from now.
Also, your views on the beneficiaries and preferences regarding the division of the assets could alter.
Please take note that the list above assumes that you have basic and straightforward assets and deemed it necessary to write your own will but if you have a more complex estate or assets, then consider hiring an estate attorney.