The Importance of a Will
If you die without a will, the state normally determines how to distribute your assets. If you have children and perish without a legal will stating which individual you wish to raise your underage children, the state will also choose who gets custody of your little ones until they are of legal age. Such scenarios are often disturbing for people to think about, but they drive home the importance of preparing a legal will prior to death.
A will can be as basic or complicated as you desire. Here are a few key points that most wills outline.
1. Beneficiaries -- In a will you will clearly name the beneficiaries of your personal belongings and money. You can name individuals, a group or an organization.
2. Distribution -- You can outline how you want your personal assets and money distributed.
3. Executor -- In your will, you can choose one or more people to act as the executors of your will. It will be their job to make sure that the beneficiaries receive your personal assets and money as you wish everything to be distributed.
4. Guardians -- If you have minor children you will want to name a guardian or guardians for the children. You might also wish to put your assets and money into a trust as an inheritance for your minor children using your will.
All states have various laws and regulations regarding wills, but most require that they be up-to-date, be fully written out, signed, dated and witnessed by two people. In most cases the will must be notarized to be legal. Beneficiaries in a will can normally not act as witnesses on the will or it becomes null and void.
At We The Document, LLC, we can help you prepare your will. Please contact us to more about our many services.