#write a will

When my great great aunt died, A, my grandmother, her ostensible caretaker, was left with a few pieces of furniture and some jewelry in the will. Well, Edward, her son, A's cousin (she helped raise him), decided he wanted that stuff. Demanded it, A refused, because it was the wish of her beloved (genuinely beloved) aunt, and in her will. Courts got involved. Well, E worked for Hoover's FBI (had a signed Merry Christmas 1948 photo and everything), and thought that would give him some traction in the RI court system. It...did not. He lost spectacularly in the first two minutes of the case when he told the judge he hadn't visited his mother in five years. A never spoke to him again, the entire extended family (quite extensive) blackballed him, and then A went home to the photo album and burned out all pictures of his face with a cigarette except for one, of him as a child, sitting with her on a fence, it's a gorgeous hand colored photo. She kept it to "remind herself that evil exists." A also forbade anyone in the family from naming their offspring Edward, and that's held.

*Fun side story: I found a footlocker full of photos my grandfather and great uncle's service in WWII. At the bottom was a bag with more photos of this guy nobody recognized, in the Navy, the South Pacific, not ugly by a longshot, but nobody could place him...until we showed it to my mom's elder sister. She pinned him as Edward immediately and suggested we burn the rest of the photos on principle. I didn't, and that's how I ended up with a signed photo of J. Edgar Hoover (who was a bastard and is rotting in Hell).

Considering your future and the legacy you want to leave? Writing a will is crucial for ensuring your wishes are honored and your loved ones are cared for. This guide helps estate planners and families understand the importance, steps, common mistakes, and emotional aspects of creating a comprehensive, legally binding will. Start crafting your legacy today.

Understanding Wills

What is a Will?

A will is a legal document that outlines how you want your assets distributed after your death. It can include instructions for your property, investments, personal items, and more. Having a will ensures that your estate is handled according to your wishes, minimizing disputes and confusion among your heirs.

Why is it Necessary?

Without a will, the state decides how your assets are distributed, which may not align with your desires. This legal process, known as intestacy, can be lengthy and complicated. By having a will, you maintain control over your estate and provide clear guidance to your loved ones. Estate planners play a crucial role in this process, helping you draft a will that meets legal requirements and reflects your intentions.

The Role of Estate Planners

Estate planners, including financial planning attorneys like those in Fort Worth, are professionals who specialize in managing an individual's estate. They offer valuable insights into the legalities of writing a will and help ensure that all your bases are covered. From tax implications to guardianship arrangements, estate planners can guide you through the complexities of estate planning.

Steps to Writing a Will

Choosing an Executor

An executor is responsible for carrying out your wishes as outlined in your will. Choose someone you trust who is organized and capable of handling the responsibilities.

Naming Beneficiaries

Beneficiaries are the individuals or entities who will receive your assets. Specify who gets what to avoid misunderstandings.

Appointing Guardians for Minor Children

If you have minor children, appointing a guardian is crucial. This person will be responsible for their care in the event of your passing.

Making It Legally Binding

To ensure your will is legally binding, it must be signed and witnessed according to your state's laws. This often involves having at least two witnesses who are not beneficiaries sign the document.

Reviewing and Updating

Life changes, and so should your will. Regularly review and update it to reflect major life events such as marriage, divorce, birth of a child, or significant financial changes.

Common Mistakes to Avoid

DIY Wills

While it may be tempting to write your own will using online templates, DIY will often lack the legal robustness required to stand up in court. Errors or omissions can lead to disputes and invalidate parts of your will.

Not Updating Your Will

Failing to update your will can lead to unintended consequences. For example, an ex-spouse could inherit your assets if your will isn’t updated after a divorce. Make it a point to review your will annually or after major life events.

Overlooking Minor Details

Small details can have big implications. Make sure to include specifics like account numbers, descriptions of valuable items, and any personal messages you want to convey. These details can help ensure your wishes are clearly understood and followed.

The Emotional Side

Discussing Your Will with Family

Talking about death and what happens afterward can be emotionally challenging. However, having open conversations with your family about your will can prevent misunderstandings and conflicts later on. Approach the topic with sensitivity and be prepared to answer questions.

Dealing with Emotional Reactions

Your family members may have strong emotional reactions when discussing your will. Be empathetic and give them time to process the information. Encourage them to share their feelings and thoughts openly.

Strategies for Difficult Conversations

Prepare ahead for difficult conversations by writing down key points you want to address. Consider having these discussions in a comfortable, neutral setting. If needed, involve a mediator or estate planner to facilitate the conversation.

Conclusion

Writing a will is a crucial step in securing your legacy and providing peace of mind for your loved ones. By understanding the process, avoiding common mistakes, and addressing the emotional aspects, you can create a will that stands the test of time.

An estate planning law firm O'Fallon, Missouri residents rely on understand why having an estate plan in place prior to your passing is so important. The majority of people have an estate, whether it be big or small. An estate comprises of all the belongings, property, bank accounts, insurance, and other treasures that are truly yours. Eventually, most people start to realize just how crucial it is to write an estate plan so the future of their family is secured. 

Here in the article to follow, we have emphasized exactly why it is vital to create an estate plan, and how an attorney can be of assistance throughout the way. 

The Importance of an Estate Plan

Many people may avoid writing an estate plan because they believe they do not have enough property or money worthy of such documentation. Others may want to avoid thinking about their own mortality at all, so they avoid creating a plan for their estate.

If you were to pass away without writing a will, it is possible that your estate will be handled by the state government. By writing down your wishes on paper, it can help diminish feuds arising between family members, who are already so distressed due to losing you. It is highly recommend taking the time to write an estate plan, for the peace of mind of you and your loved ones. 

How to Get Started

If you have never written a draft of your estate plan before, you may feel fairly intimidated at the process. By having an attorney for guidance during estate planning, it can help make the overall development less daunting. We suggest taking one step at a time, so you do not feel overwhelmed. A few things that are commonly included in an estate plan are:

A will that lists who shall inherit your assets in the event of death

A living trust to help prevent surviving family from going through probate

Writing down your wishes regarding health care if you become incapacitated or disabled

Appointing a power of attorney to be responsible for your finances, if you become incapable of doing so yourself

Appointing a will executor who shall carry on your wishes and safeguard your estate after you pass away 

Reviewing Your Estate Plan

Once you have finished your estate plan, do keep in mind that you should revisit it every few years, or after there has been a life change that necessitates an update. Just a few examples of life events that may require an edit your estate plan are: 

New births or adoptions in the family

A beneficiary, will executor or other appointee passes away or is unable to fulfill duties 

You have accumulated a significant sum of money or valuable property

Your children are no longer of minor age 

There has been a marriage or divorce within the family

Why Write a Will?

Financial laws regarding inheritance and next of kin and wills can be very difficult for some to…

Although we do not like to dwell on our deaths, we know that it will occur at some point and the sensible among us ensure that we have made some preparations towards this end. The most important thing that we can do is to write a will to make sure that out wishes are clear. Writing a will does seem morbid to some people but it makes a lot of sense and there are many will writing services which will make it very easy for you. For a will to be legally valid, the following rules apply:

The will must be in writing

You must be over 18 or have been or be married

You must be of sound mind

You must sign or mark the will or acknowledge the signature or mark in the presence of two witnesses.

Your two witnesses must sign the will in your presence

Your two witnesses cannot be people who will gain from your will and they must be present with you at the same time for their attestation to be valid. The witnesses' spouses/civil partners also cannot gain from your will.

Your witnesses must see you sign the will but they do not have to see what is written in it.

The signature or mark must be at the end of the will.         

These are legal requirements and if they any of them are not met, the will is not valid. If you want to change your will after you make it, you can add a codicil (amendment or change) to your will; this codicil must meet the same requirements set out above. You will have to add up the value of your assets and liabilities, which could include the following; Assets     

Your home -is it in your sole name or jointly owned?

Bank and Building Society accounts

National Savings investments

Life Assurance policies

Pension Fund and Union Benefits on death

Stocks and shares

Unit Trust investment

Premium Savings Bonds

Furniture                     

Interest in other people’s estates

Property & bank accounts abroad

Liabilities                     

Mortgage

Credit card debts

Outstanding Loans

If you do not make a will, some of the problems could be:

Your husband or wife may not automatically inherit your property and
 possessions.

Your family could be liable for a 40 per cent tax bill on whatever exceeds 
£325,000 of your estate.

Your partner would receive nothing if you are unmarried, as the law treats you both as single.

Guardianship of any children you have under 18 may be unclear, leaving the courts to decide who looks after them.

The task of carrying out your wishes may fall upon a person who is unsuitable for such responsibilities, or they may turn to a solicitor who will
 deduct a fee from the estate.

A special gift, intended for a grandchild, friend or charity won’t necessarily reach them.