Preparing a Will
What is a Will?
A will, sometimes called a “Last Will and Testament,” is a document that states your final wishes. It is read by a county court after your death, and the court makes sure that your final wishes are carried out.
Where do I start with writing a will?
A few things everyone needs to consider when writing a will and preparing for life threatening or life ending instructions.
No one wants to consider the end of their life, or the stress and grief that it will cause their loved ones. However, without clearly articulating your wishes, that stress and grief will often be magnified many times over with people falling out from the stress and grief of it all, or simply fighting over your belongings, assets or property.
No matter your age, we all need to think about our end of life wishes, especially given that we don't know when that day will come or how it will come, but it will come, for all of us and that is a certainty.
You can also record your instructions on video tape as well. We would recommend contacting an attorney if choosing to videotape your will, as well as providing provisions for multiple copies of the tape in case it is corrupted by time or other problem such that the video can not be properly aired.
A will, sometimes called a “Last Will and Testament,” is a document that states your final wishes. It is read by a county court after your death, and the court makes sure that your final wishes are carried out.
Where do I start with writing a will?
A few things everyone needs to consider when writing a will and preparing for life threatening or life ending instructions.
No one wants to consider the end of their life, or the stress and grief that it will cause their loved ones. However, without clearly articulating your wishes, that stress and grief will often be magnified many times over with people falling out from the stress and grief of it all, or simply fighting over your belongings, assets or property.
No matter your age, we all need to think about our end of life wishes, especially given that we don't know when that day will come or how it will come, but it will come, for all of us and that is a certainty.
- You can write your own will by handwriting it, typing it and having it notarized and/or filed with the register of deeds or such entity in your county in your state, or simply giving copies of it to all of the beneficiaries named in your will. A beneficiary, is any person that you leave any item to in your will.
- To determine who you want to leave your property to, which can be physical items, liquid assets, and real property, first take an inventory of your items. For example, items like rings, watches, or anything that is an heirloom passed to you that you want to go to specific people, write the item out on a list in a short but accurate description and list the person you would like it to go to in your will. The same is true for bank accounts, and real property. If for example, you have $10,000.00 and you have four beneficiaries you are leaving it to, be sure to list the bank and numbered account the funds are in, and list the four people, and state "you four shall share in these funds, and share alike."
You are effectively giving them an interest in these funds, and it does not matter if the account is more or less at the time of your passing, your intentions are clear, those four people are to split the funds with an equal one-fourth interest in the funds. You can also leave property of course in unequal shares as well. The same can be done with real property as well, where a number of people are named as beneficiaries to share either equal, or even non-equal interest in the property, as long as the total adds up to 100% of the property.
For example, you may have five named beneficiaries, four of which are to have a 17.5% interest each, with the fifth specifically named beneficiary having a 30% interest for whatever reason that you prefer that they have more. This equals 100% interest in the property, and you may want to add a clause that any party may buy the interest of the others out or that any beneficiary can simply release their interest to any other beneficiary. If you are going to start getting this specific, you may want to assist the aid of an attorney to make sure that your will and your intent are very clear. - There are three very important things to consider when writing your will.
A) You must be considered to be of sound mind when writing your will, otherwise, beneficiaries and even non-beneficiaries may be able to legally challenge your will.
B) Anytime there is a new life change, you may need to revisit your will. For example, anytime you get married, divorced, or remarried, a child is born, adopted, or a grand child is born, you may want to consider if any necessary changes are needed as additions to your will. You do not have completely rewrite your will, you can simple add the new changes and "incorporate them by reference". You simply refer to your older will, and add an addendum to it with the new changes, but be sure to add the language that the changes are to be apart of the will, not replace the will. This is very important because you may write 10 different wills during your life time, but your very last will is deemed to be your proper "will and testament" with your intent to disperse your possessions amongst your named beneficiaries.
C) Always have a second, or even third named beneficiary of your possessions in case your first named beneficiary dies before you, and therefore the execution of your will. For example, you may say "I leave my gold watch with my initials on it to my son Maurice Smith, but in the event he predeceases me, I leave this watch to his son, Maurice Jr. - In your will, name an executor of that will. An executor is the person responsible for seeing that your estate is properly closed in the county clerks office your reside and is responsible to make sure your will is properly administered pure your instructions and wishes. The executor can be an attorney or other professional, and if so, you need to provide for their fee in your will. Most people however choose a trusted and responsible family member and/or friend to be the executor. The executor has no power to change or interpret your will, they merely are to follow your instructions and they can also be a named beneficiary of your will. Trust me, making this clear to all parties involved can save a lot of headaches, but making your intentions in your will explicit and clear to all parties is the best way to stop confusion and bickering.
- Consider your end of life decisions as well. If you know that in certain medical conditions, if your body fails you and you need medical assistance and intervention to resuscitate you or otherwise you will die, you can leave instructions to not be resuscitated in various medical conditions. For example, if you have experienced a stroke, and you recovered from it, but you never want to go through that experience again for yourself and your family if you suffer a massive stroke, and if they get you to the hospital, but the machines are the only thing keeping you alive, you can leave instructions to not be resuscitated by hospital staff if you cannot breath or other live under your own physical ability should you go into cardiac arrest on the machines or if they take you off the machines to see if you will be strong enough to live on your own accord. These instructions are called DNR or DO NOT RESUSCITATE instructions and are typically given for safe keeping with a spouse or trusted family member such as an adult child.
- This is a trying time and process for any person or family, but I assure you that it is easier for all involved when you leave clear instructions about your wishes for your various property and who you want it to go to and perhaps even more importantly, why. For simple wills, you can do them yourself, for more complicated wills, you may want to seek the aid of an attorney for clarity and to make sure the will is legally sound and prosper.
You can also record your instructions on video tape as well. We would recommend contacting an attorney if choosing to videotape your will, as well as providing provisions for multiple copies of the tape in case it is corrupted by time or other problem such that the video can not be properly aired.