The Most Important Things to Include in Your Will
Everyone understands that having a will is important. It is your way of ensuring that your family members and friends are taking care of after you leave this world. It can be the last words your family gets to read from you and so it is important that you take will creation seriously. While many people understand the importance of a will, not everyone knows what you need to put into your will. In this post, we’ll walk through the most important things you need to include in your will with the help of a will lawyer Folsom relies on in order to make sure it is a valid, legal document.
Many people create a will after they have their first child and this is because they want to make sure their child is taken care of if anything should happen unexpectedly. Because of this, it is important that you name guardianship of your minor children in your will. Who do you want to raise your child until they become an adult in case you are not around? This is an extremely important decision and one that needs to be explicitly written in your will. If you do not name a guardian, then the state will decide for you who will become the guardians of your children.
Name and executor
You will also need to name an executor of your will. This is the person who makes sure that your wishes and plans are executed as you would have liked them to be. Make sure you pick someone who can be stern if necessary when family tensions and emotions run high (as they generally do after a death in the family). If you want to be certain your will is executed correctly, make sure you designate the right executor. Again, if you do not name an individual, the state will appoint one for you (which may not be the best idea depending upon your family dynamics).
Name your beneficiaries
Naming beneficiaries is probably the most well-known part of creating a will. This is the section where you designate who gets what. Which family members will receive your property, real estate, finances, or other valuables? You can be as specific or as vague as you would like. The most important part is that you name someone(s) to be the new owners of your things.
Name a power of attorney
It’s important to name a power of attorney in your will in the case that you are not able to make decisions for yourself. This person can make both financial and healthcare decisions on your behalf. They can initiate your DNR plan, they can make payments on your house and bills while you are in the hospital, and they can make decisions on any additional medical care you may need.
These are the four main components of a will. By including these main things, you can have peace of mind knowing your family (and yourself) will be taken care of at the end of your life. They can ensure you leave a solid legacy for your family and friends.
Thanks to Yee Law Group for their insight into estate planning and important things to include in your will.