How To Write A Will

Precise instructions on how to write a will vary depending on what state a person is living in. Such details as who can sign as witnesses, how many witnesses are required, and whether notarization is an option should be investigated before a will is considered finished and ready to be stored away. In addition, if the testator is going to distribute his/her assets in an unusual way (such as giving everything to charity instead of to family members) a consultation with a lawyer is definitely necessary. Anyone with valuable assets such as a house, a family business, or financial accounts should consider creating a trust when writing a will.

Making a list of assets is the first step in creating a will. This should include all separately held assets and a 50% share in any jointly held assets that will not automatically pass to a survivor listed on the deed or title. Deciding how assets and any personal effects will be divided up between one or more heirs is the next step. There is no upper word limit on a will, so it can be as long as necessary in order to convey all the last wishes of the testator. Guardians for any minor children and an executor to handle the estate should be selected. Individuals who are not named as beneficiaries in the will should be chosen to witness it. After this, the will should be signed by the testator and all the witnesses in each other's presence.

Fast Facts

  • Lawyer's fees for writing a will can be several hundred dollars.
  • Inadequate estate planning can cost heirs thousands of dollars in lost inheritance.

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