Do you want to know how to write a Will that will be legally binding? Do you want to make sure that your bequests will be carried out as you wish? You cannot get around to writing a Will and testament too soon. Here are some top tips for making a Will:
1. A lot of people do not realize that they do not need to use a lawyer in order to write a last Will. Is a Will legally binding without the use of an attorney? Yes, you are able to draft a Will yourself or use an online service as well as buying some writing last Will software. Alternatively, make your own legal Will by studying a specialist book on the subject which you could get from your local library.
2. You could try using legal Will templates. These are available from the internet or from quality stationery shops. Ask for a "writing a Will form" or a "Wills template" when you go into the retailers.
3. It is important to write "Last Will and Testament" at the top of the document.
4. Signing Wills - you should sign the finished article in order to make it a legal binding document. Your signature should be witnessed by two independent witnesses who will not benefit from your estate.
5. Give the matter some thought before hand. You could, for instance, write your own last Will and Testament in rough first. You could take this with you if you were going to have a lawyer to do the work for you. This would save time and, perhaps, a little money for you.
6. Make sure that you state who you wish your Executor to be when writing a Will. You could name the main beneficiary, such as the surviving spouse, should you wish. The advantage in doing so is that they would have a good knowledge of the deceased's affairs. It is also easy to make your wishes known to them so that they have a good understanding about your intentions.
7. When was your Will last reviewed? Make sure that you keep it updated especially whenever there is a major change in your circumstances like marriage, birth of a child or similar event.
8. Do you have children under the age of 18? It is crucially important that you make provision for them in a number of ways. Firstly, there should be financial protection for them but also remember that they would need a guardian to take care of them. The courts would appoint someone for you if you fail to name a guardian when writing last Will and testament and it might not be someone who you would be happy with. You should also give thought to the prospective carer's financial provision, too, in order to ensure that they would be able to carry out their duties.
9. Draw up a list of your financial and property assets. This should help you to decide who gets what upon your demise. The executors also need this information so it is a great idea to attach this list to the document. It is worth taking the time to get this right when preparing a legal Will.
10. You usually need at least two witnesses to your signature when making legal Wills correctly, but check in your locality to be sure. Some countries in the world have really specific requirements like having to include the time as well as the date in order make death Wills legally binding documents.
11. A legally binding Will is no use if it cannot be found or if it gets lost or destroyed. Inform your Executors where it is stored and make sure that they can get easy access and that it is somewhere safe and secure. A bank deposit box is a great idea and you could get your family to place all of their important items there and share the cost between you all.
12. Writing a legal document does not need complex or flowery language. Use clear and plain language to explain exactly what you want to happen. Include the full names and addresses of beneficiaries and ask yourself if other people are going to easily understand what your have written down. Get someone to read it and ask them what it means.
There was a famous entertainer who died without writing a Will. His family must have been caused a huge amount of stress and worry because it took no less than seven years to sort out his estate. Do not fall into the same trap. Get around to this important job quickly and do it right.
0 comments:
Post a Comment