No Sweat: Writing A Will 101
If you have just reached 18 it doesn't necessarily mean that you need to prepare a will by law. It only means that you are eligible to be writing a will indicating the beneficiaries of your estates. Then again, you may be too young to own a lot of properties or have a considerable amount of money that can prompt you to write a will. Nonetheless, if you are actually a sole heir of a large estate or if you are one of those techno geek teenagers who have done magnificently in online businesses, then prepare your last will and testament accordingly.
If you have worked hard in an early age and have luckily made the right investments with clear earning potential, you can choose to write your will anytime you wish. Writing a will doesn't mean you have to be married first before doing so, preparing one is needed in order for you to protect the future of your family especially if you are the breadwinner, either single, married or divorced.
A legal document that tells the executor how to handle someone's real and personal properties is called a will. It is a legal document executed according to the stipulations indicated by the testator or the one who created the will. Aside from properties, it can also include the guardians of your children in the event of death.
Most people are familiar with the written will which designates an executor and lists down all the properties of the deceased to be distributed to the heirs. Since it is a legal document all the entities written down should have their proper identification. The name of the beneficiaries should be their legal names and so on. And to prove that the testator is sane and is mentally sound during the preparation of the will, he or she should clearly write down that condition to erase doubts that there are outside forces influencing his or her judgment.
Of course, you do not automatically start with the distribution of your wealth. You start by making sure that the funeral arrangements are taken cared of according to your desires. Usually, the spouse or a first degree relative handles this, but in the event that there are no relatives or immediate family, your significant other can take on this role.
Next is the assignment of responsibility for your children if you are a single parent, widowed or divorced. After which, is the long list of your real and personal properties and the corresponding beneficiaries of those assets.
And lastly, the signatures of the witnesses who will attest that you are indeed the one who created the testament and your signature. Your witnesses cannot be your beneficiaries. You can also have it notarized.
Writing a will early can be a little morbid or having a death wish lurking behind your back. But being prepared for the future of your family should be your prime concern regardless of how you view an early death. - 23199
If you have worked hard in an early age and have luckily made the right investments with clear earning potential, you can choose to write your will anytime you wish. Writing a will doesn't mean you have to be married first before doing so, preparing one is needed in order for you to protect the future of your family especially if you are the breadwinner, either single, married or divorced.
A legal document that tells the executor how to handle someone's real and personal properties is called a will. It is a legal document executed according to the stipulations indicated by the testator or the one who created the will. Aside from properties, it can also include the guardians of your children in the event of death.
Most people are familiar with the written will which designates an executor and lists down all the properties of the deceased to be distributed to the heirs. Since it is a legal document all the entities written down should have their proper identification. The name of the beneficiaries should be their legal names and so on. And to prove that the testator is sane and is mentally sound during the preparation of the will, he or she should clearly write down that condition to erase doubts that there are outside forces influencing his or her judgment.
Of course, you do not automatically start with the distribution of your wealth. You start by making sure that the funeral arrangements are taken cared of according to your desires. Usually, the spouse or a first degree relative handles this, but in the event that there are no relatives or immediate family, your significant other can take on this role.
Next is the assignment of responsibility for your children if you are a single parent, widowed or divorced. After which, is the long list of your real and personal properties and the corresponding beneficiaries of those assets.
And lastly, the signatures of the witnesses who will attest that you are indeed the one who created the testament and your signature. Your witnesses cannot be your beneficiaries. You can also have it notarized.
Writing a will early can be a little morbid or having a death wish lurking behind your back. But being prepared for the future of your family should be your prime concern regardless of how you view an early death. - 23199
About the Author:
Creating a Will In Texas, or any other state, requires that you follow the probate laws of your state exactly. If this seems challenging, don't hesitate to get professional estate planning help.
posted by X - Men @ 3:40 AM
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