Important Things to Know When Writing a Will

A will is a legal document that is used when a testator (the person writing the will) decided whom gets his positions when he dies. The document can include any items from a large estate such as big, expensive items and properties to small things that may not have much monetary value but has a lot of sentimental value. Some properties, such as insurance policies and retirement plans, aren't covered by wills. A will is critical if you have properties or other assets. Wills also hold the information about whom the guardians of your children will be should you die before they are of legal age. If you die without a will, your property becomes intestate, which means that the laws of your state will settle your estate and decide whom your beneficiaries are and whom your children will live with.

There are several ways that you can go about writing your will. An attorney that is well practiced in writing wills is the safest option. He will be able to make sure that your will is exactly how you want it without any loopholes that may cause issues for your beneficiaries. Do-it-yourself kits are widely available for purchase on the Internet, but using them can be a risk, as it is important that your will meet all of the legal requirements of your state. All states require witnesses, preferably those that are not beneficiaries, to witness the signing of your will and some states require that your will be legally notarized. It is also important to name an executor, a person that is responsible for making sure that your wishes are followed in probate court once you are deceased. This can be a spouse, adult child or legal professional. Though some couples wish to have joint wills, it is really not advised. It can become complicated if one person is deceased before the other and many states don't recognize joint wills. 

Storage of a will is something that is not often thought about but is still important. Probate court will expect the original copy of the will to release a person's estate. You should keep the original copy in a safe deposit box at the bank or in a locked safe at your house. It is also important to keep signed copies with an attorney or somewhere safe in case the original is destroyed. Updating your will is also important. Update the will whenever a major event occurs, such as acquiring new assets or having children.

Lauryn Winterson is a professional writer that enjoys reading, gardening and spending time with her family. She obtained her law degree at 4LawSchool.com.

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