Writing a will is one of the most important things you will ever do. Yet, most people often fail to realize the importance of writing a will or ignore writing a will altogether. This is a big mistake.
A will is a legal document which, after you die, determines who will get your property, who will be the guardian/s of your children and who will manage your estate. Obviously, these are very important issues to get sorted since the outcomes reached in your will have a huge impact on your remaining family and offsprings.
If you do not write a will then state laws will determine who gets your property in a process called intestate succession. Most likely, your estate will be divided amongst your spose and children. Depending on the laws in your state, your property will be divided amongst your spouse and children. For those who are not married and do not have any children, than their property is dispensed to your next of kin. If, in the event that you do not have a next or kin, or the state is unable to track them down, than your property goes to the state.
So, it is obvious that writing a will is a necessity. But what is required?
The two most important things to include in a will is naming a guardian for your children, if yourself and your spose are unable or unwilling to act as guardian, and naming an executor for your will. The executor of your will is responsible for oversee the disbursement of your asset after your death as well as other important responsibilities (you can hire an attorney for this role).
There are two types of gifts that you will leave in your will. These are specific gifts and general gifts. Specific gifts (optional) are specific objects left to a specific person. General gifts are the leaving of a percentage of all of the remaining estate to principal heirs.
There are many options available to someone looking to write a will. You can do it yourself using a will kit or an online will service. Or, ofcoarse, you can go to an attorney to get your will done.
Once you have written your will it should be stored in a safe place.