Content Attributes
You do need to spend huge amounts on lawyers or estate planning to know where and how to distribute the assets you have owned all your life. Following mentioned procedure will help create a professional will that will only cost you a notary public.
Choose a Format
The first thing is choosing an online will template as per the laws and regulations of the country. You would need to type in a formal will on the computer. A written “will” is still acceptable, but it poses a greater chance of being edited and manipulated to benefit the interest of the beneficiaries.
Do a quick Google Search. Discover a few online services and understand the template before jumping into creating a will. If you create a will for you and your spouse, the two need separate documents. There is no requirement for the wills to be identical. However, due diligence is advised.
Enlist Assets
Once the template has been chosen, it is time to create a list of assets. Construct a list of all the assets you own. It involves real estate, jewelry, art, paintings, sculptures, cash reserves, and bank accounts. None of these assets have a beneficiary, or they wouldn’t be in the will.
Life insurance and retirement saving accounts also require naming a beneficiary. You may need to name the beneficiaries for property and real estate developments. You are also required to name the person who will receive entitles of the bank under transfer of death or payable on death circumstances.
Choose Guardians
The next step involves choosing a guardian for your children. If you have minor children, pick a guardian that is a close family friend or a family member. The person will carry the legal properties of being a parent and must also own the financial and psychological capacity.
You can also pick a caretaker for the pets if any. Pets are termed as properties and not family members. Therefore, they cannot inherit the will. The person left in charge of the pets will receive a weekly allowance until the pet remains alive.
Name an Executor
Choose the person to distribute the property. This person is hereafter called the executor and is responsible for paying legal bills and closing debts. You can name more than one executor. However, that will complicate matters for your estate and your family. Therefore, just stick with naming a single executor.
Funeral Arrangements
The next step involves listing the funeral settings. Decide where you want it to take place and the timing. Decide what you shall wear and what you want to be said at the funeral. Now print the will and sign it. You need to be in the presence of two witnesses who are not minor for the will to be valid.
Get started on your “will”
Click here, to begin with, the initial draft of creating the will online. Once everything is complete, print and store it in a safe place. However, ensure the beneficiary and executor know where it is.