- Assets, money, or property
- Guardian(s) to care for any minor children
- Appointment of an executor to carry out your wishes
- Caregiver(s) and funds for any companion animals
While you do not need a lawyer to complete a will, you may find the entire process overwhelming without one. A good estate of the realm lawyer can help you prepare a will, and any extra estate planning documents you need. If you would like a recommendation, book a quick call and we can help you find one who ’ s right for you.
Remember, a will is alone one partially of your estate design. You might besides need a Power of Attorney and Advance Care Directives to help protect yourself and your sleep together ones .
What’s in a Will?
Your estate is all the money and the things you own, from your family photos to your family. Your will assigns where it goes, from family to charities and everything in between. The people or agencies you leave your estate to are your beneficiaries. Keep your debts in mind when assigning assets to beneficiaries. For exercise, if you leave a home with a mortgage, can they afford the payments ?
If you pass away without leaving a valid will, you are considered to have died “ intestate. ” Usually, this means your estate is settled based on your express ’ s probate laws. ( Probate is the legal action of transferring the dead person ’ south place to their heirs. ) Probate laws broadly favor the stream spouse.
So you have a will and you pass away, what now?
An executor carries out your wishes ! An executor is a person or persons assigned by you, the testator, in your will. They ensure your wishes are carried out the way you want. They will besides oversee settling your debts after the monetary value of probate and funeral expenses. That ’ mho authoritative. You should consider these costs when planning. much your executor is a lawyer or an accountant—who will need requital for this service. ( Which is another cost you will need to consider. ) You can have more than one executor. You can besides have co-executors. Remember, your executor doesn ’ thyroxine have to be a professional, but choose person who will carry out your requests without bias. For more complicate estates, a professional is normally advisable. Or the use of co-executors wherein one is a professional .