How Do I Write My Will?

Remember that if you don’t write your will correctly, your wishes could end up going unfulfilled, says Claremont Portside’s article entitled “A Guide for Writing Your Will: Steps You Need to Take.”

While there are a lot of tools online, your best bet is working with an experienced estate planning attorney.

Schedule a meeting with an estate planning attorney to discuss your final wishes. The process of writing a will is relatively straightforward:

• Decide who you want to inherit your assets
• Remember to include your favorite charities, if you want
• Note if any of your heirs has special needs or requires extra planning (e.g., if they’re not good with money)
• Note if you have minor children who will need a guardian and can’t inherit outright at their age
• List the specific items or assets you want each person to inherit
• List any debts or liabilities
• Designate an executor or personal representative
• Determine how your estate should be managed, until it is distributed; and
• Ask your attorney about tax implications.

Once prepared, retain a copy in a safe place and make copies for your executor, your spouse or partner, children older than 18 years old and any other heirs who live in another state.

When you begin this process, create a list of what you own and how much it’s worth. This can help ensure that your estate is distributed according to your wishes.

The executor of your will is responsible for ensuring that everything goes according to plan, so choose someone you trust.

Reference: Claremont Portside “A Guide for Writing Your Will: Steps You Need to Take”

Suggested Key Terms: Estate Planning Lawyer, Wills, Inheritance, Guardianship, Executor, Personal Representative, Probate Attorney, Estate Tax, Gift Tax, Unified Federal Estate & Gift Tax Exemption