3 Tips for Creating Your Will
Posted on: 5 May 2015
According to statistics, some 55 percent of people don't have a proper will in place. This can have catastrophic circumstances, as dying without a will can create some serious problems for your family. You will need to be sure that you are able to put together a will that outlines how your assets, money and belongings will be divided amongst family members. With this in mind, you will need to learn some of the advice that will help you file an iron clad will, which takes the stress off of the back of your loved ones.
#1: If You Are Married, Avoid Filing Jointly
Married people tend to get in the groove of doing business together, but putting together a will is one time where you'll need to go it alone. Attorneys and experts in the field strongly suggest that you don't file a joint will. It is very rare that couples die at the same time, so you'll need to cover information that pertains to just your property and assets. This is especially important with regard to anything that you owned before getting married. To be sure that the process is not muddied or confusion, think about yourself when creating a will.
#2: Choose the Right Person to Act in Your Interest
The person that you choose to execute your will is just as important as the will itself. The executor that you assign will be responsible for important tasks like settling estate tax debt, keeping tabs of any property, dividing the property, getting any items appraised and handling any debt that you had prior to your death. These are all very important tasks, which is why you will need to choose someone that is capable and responsible in handling these endeavors.
#3: Know the Cost to Create a Will
When you reach out to a licensed and insured attorney to help you craft your will, you should have a basic understanding of how much it will cost. Typically, you can expect to pay between $150 and $600 to have your lawyer draft a legally binding will. These costs can be more or less depending on a number of factors, so make sure that you set up consultations and shop between law firms, and get a breakdown of all costs in writing.
Take these three tips and reach out to a lawyer like Patricia L Riddick PLLC Atty who can help you plan for this time through the creation of a will.
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