We spend our whole life thinking about what we have to do while we are alive, but have you ever thought of what will happen to your position, assets or even your loved ones after your demise?
If you are someone who has a great deal of assets/liquidity or perhaps a single mother running an entire business and you worry about what will happen to it once you have passed away, then it is recommended that you draft your will. Click here for free will kit and continue to read on below to know some pro tips on how to go about preparing your will without overthinking.
- When you die, your property, cash and other earthly possessions will go to someone. Now that someone could either be your spouse, child or whoever you decide it to be. While writing a will, it can be easy to choose from the options you may have in mind and that will ensure that all your assets go to someone you trust. For this you, have to choose someone responsible or dear to you. This person will be responsible for all the paperwork and after your demise, he/she will be the one to carry out your paperwork.
- It is essential that you give the entire process time and think thoroughly while you’re at it. It is always recommended that you sit by yourself, perhaps in your home office, to just be by yourself while drafting the will. Write in detail about what the other person will get. You don’t need anyone’s permission to put them in your will. For example, if you want to name your relatives as your kids guardian, you don’t necessarily need to ask for their permission. Now, say you leave your money to your wife and believe your wife to leave that money for your children is not correct. If you leave your property to your wife, then it is her decision to make about what she wants to do with it after she dies. This is why being specific about everything in your will is important.
- You can even attach a letter to your will, a personal note or a final goodbye to your loved ones. You even need witnesses to sign your paper. Keeping in mind your witness should be 18 or older. If something is to happen to your will, the judges will need the witness to come and testify for it. This is why signing of a witness is also a very important act for drafting your will.
- Make sure that you give your will in the hands of someone you trust along with your passwords and other important papers. You don’t want your will to be lost or forgotten about in the chaos. Having a trusted one taking care of your papers will make it easy for it to reach out to your people once you have passed away.
- Keep on updating your will after a childbirth, marriage, divorce, etc. This will ensure that if you are to get divorced, your money is not going in the hands of your ex-spouse.