“It is best to get advice from a solicitor, public trustee or private trustee, if you are unsure about making or changing a will.”
There’s no escaping death. It’s a fact of life. But having your affairs in order helps eliminate some of the stress and anxiety during a very traumatic time.
The South Coast Register from down under has some worthwhile suggestions in its article, “Dying to Know Day: Wills and won’ts of estate planning.”
A will is a legal document that lets you choose the relatives, friends, and charities who you want to inherit your assets when you die.
If you die without a will, your assets will be distributed to relatives by the state laws of intestacy, which may not be according to your wishes.
If you don’t have any relatives, or they can’t be found, your estate will be paid to the state.
You can make your own will, or you can hire an experienced estate planning attorney to assure that every detail is addressed.
If you decided to draft your own will, proceed at your own risk. Make sure that you consider the likely value of your estate, all of your potential beneficiaries, any special gifts or bequests, the disposal of any remaining assets and the appointment of an executor. Consider having an estate planning attorney from your state review it, because unless you are familiar with the laws of your state, the entire will could be invalid, if there are too many mistakes.
You want to be sure your will is written correctly, because challenges can be expensive and time consuming. It will also cause unwanted pain and stress to your family and friends.
Make sure that your will is properly witnessed and that you’ve named a trusted executor. Be sure to tell him or her that they have been appointed and make sure they are willing to take on the task. This is important because it will be their job to execute the provisions of your will.
Reference: South Coast Register (August 9, 2017) “Dying to Know Day: Wills and won’ts of estate planning.”