Crucial Factors You Must Consider When Writing Your Will

Law Blog

Creating a will may be one of the most important tasks you undertake as an adult, particularly if you are a parent. Your will allows your wishes to be heard regarding who should care for your children, receive your property and distribute your estate. Your family will be able to access your money to cover your final expenses, pay any debts and perhaps keep a roof over their heads. Without a will, they would be forced to begin court proceedings just to name an executor who can gain access to your property.

You do not have to hire a lawyer in order to write a will, but you must invest time and effort to ensure you have done everything by the book.

Where Do You Begin?

• Start by listing all of your assets. This could be everything from bank accounts and investments to real estate and insurance policies to your prized antique glass shoe collection.
• Choose an executor to carry out your wishes on your behalf. Select someone you trust who is financially responsible and communicates effectively. The Canadian Bar Association states that an executor safeguards your estate, gathers your assets, pays your debts and divides your estate.
• Offer any details that might be helpful when you are gone, such as the location of your safe deposit box, insurance policy particulars or banks with which you have accounts.
• Name the person whom you wish to receive each asset. Provide as many details as possible. For instance, if you want your cash divided equally between your adult children, list each name and the percentage of the money they should inherit.
• Write down the names of your children's appointed guardian and an alternate guardian, should your first choice be unable to care for the children.
• Clearly define your wishes regarding how you would like your children raised in your absence. For example, you may wish for them to attend a certain church or school.
• State any desires you have concerning your funeral and burial arrangements.

How Do You Make a Will?

Determine whether a written—or holographic—will is valid in your providence. If it is and you choose this route, you must create the entire document in your own handwriting. Sign and date your completed will. Opt for a will kit, if you want to do it yourself but are concerned about making a mistake or forgetting an important detail.

Whether you handwrite your will, use a prepared kit or prefer to enlist professional aid, a lawyer like Terry Napora Law Office can help. Attorneys understand the law and can check over your will to guarantee it is legal or even prepare a will for you. A licensed, experience lawyer will give you the peace of mind you seek.

9 February 2015