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Creating Your Own Will

By Edited Aug 11, 2016 0 0

When someone dies, his or her assets get distributed among family members and close friends. If you do not make a will before your death, your possessions may go to the government, so it's imperative that you make a will, even if you believe your death is far in the future. No one knows when they will die, so it is important to always be prepared. Armed with a bit of knowledge, you can write your own will without the aid of a lawyer. These are the steps you need to make a will:

1) First step is to making your own will is to put your whole name and mailing address together with today's date at the top of the page. Write down everything using a blue pen, so the original and copies can be easily distinguished.

2) Be sure to write down that you are of sound mental health and contractual capacity.

3) Give information about your personal status - if you are single, have a spouse, divorced, or estranged. After answering this question, please include the name of your spouse or ex-spouse, and how long you were together, or how long you've been divorced.

4) Cancel any other wills and testaments you might have made. You desire them to consider your wishes based on the current will, not the will you wrote 20 years in the past.

5) The next thing is to choose an executor. An executor is someone who carries out the wishes laid out in your will. You also want to come up with a second executor, should your first choice pass away before you do. This is where you include the executor's compensation, if any. Make explicit that the executor is the one to deal with making arrangements for the funeral and dealing with any debts or taxes that are outstanding, etc. By putting this aside, you can avoid future complications by dividing up your assets.

6) Then comes the interesting stuff, portioning out your assets. There are several ways to divide your assets: by giving percentages to certain people, or by giving specific assets to certain people. For instance, "my spouse, Bernese Johnson will get 85% of everything I own," or "My entire real estate is left to my spouse, Bernese Johnson. My son, George Johnson, will receive my savings fund. In due time, you may also leave your assets behind for your children but only at the right age, like when they reach 18 or perhaps 21. Do not forget to list down everything of value, including any cash, savings accounts, stocks, company shares, bonds, real estate, businesses, etc.

7) Make certain all pages have your initial on them and put your signature at the end of the final page, near the date. Get the signature of a witness and write down the date as well.



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