5 Tips for Writing Your Will
Writing a will is a necessity to ensure your loved ones understand your wishes for your passing and the dispersal of your assets. Without a properly executed will, your loved ones will face strife, confusion and a host of legal matters in dealing with your belongings and finances. At Scheichet & Davis, P.C. in New York City, our wills lawyers have discovered that these 5 tips for writing your will are sure to assist you in avoiding common mistakes that are often made in the creation of a will:
- Secure the services of a legal professional, who is experienced in estate planning and inheritance tax, to assist with writing your will. If you choose to draft your own will, it is advisable to have it reviewed by a legal expert from Scheichet & Davis, P.C. before attempting to finalize it into a legal document. There are complicated issues that must be addressed, which are largely not covered by online will templates that purport to be all-encompassing documents.
- Know your state’s requirements for wills to be certain your will can be deemed legal. Every state has rules that are referred to when a will is being evaluated for validity, such as witness signatures, notarization, and asset identification and valuation.
- In your will, include every asset and debt you own. Assign an heir to every item or group of items and to each of your debts to head off any potential disputes from arising amongst your loved ones.
- Choose an executor for your will. The executor is the person who will be responsible for ensuring your wishes are carried out. It is recommended that you obtain the person’s permission to be listed as the executor and that this person is capable of meeting the obligations of handling your affairs. In the event your executor has an untimely death or cannot fill the role, you should choose another person to take over the role of executor, if needed. Additionally, be certain that your loved ones know where to find your will.
- Keep your will updated. When you purchase or sell items, open a new bank account or acquire a debt, be certain to amend your will to reflect the change in possessions and assets. You will also need to amend your will if a person listed in the will passes away or a marriage or divorce changes your circumstances.
Wills Lawyer New York, NY
With more than 135 years of combined experience in estate planning and inheritance laws, Scheichet & Davis, P.C. can assist you with your will creation to ensure your will is upheld after your passing. Contact our legal team today by calling 888-373-0163 to speak with a wills lawyer in New York, NY.