Wills
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Everybody needs a will, but where do you start? Here's information on making your own simple will (and why a simple will is much better than a complicated one) key things to make sure your will takes care of (like naming a guardian for your kids), and what a will can't do.
Wills: The Basics
Start here for a quick answers to the most common questions about wills.
Many people know they need a will, but not everyone knows what a will is or what it does.
It's easier than you think to make a will that expresses your wishes and is valid in your state.
Lots of valuable property doesn't go through your will--make sure you know how to leave it to the beneficiaries of your choice.
You can't leave what you don't own--so be sure you know what's yours and what belongs to your spouse.
Do your children have a right to inherit your property?
A simple will is always a good idea. But if your family situation is complicated, or you own a lot of property, you may want to do some more estate planning.
Use an explanatory letter to leave your loved ones notes that don't belong in your will.
How do you want your debts to be paid when you die?
Okay, are you ready to make your will? Follow these simple steps and relax, knowing you've created a valid will.
Naming a Guardian for Your Children
No parent wants to think about it, but who would raise your children if you couldn't? Naming a guardian is an important part of your will.
Many, many parents get stuck when it comes to choosing a guardian, and as a result never finish making their wills. Here are tried and true ways to get over the hump.
Learn whether your state puts restrictions on guardians who live in another state.
Naming Your Executor
Choosing an executor is an important part of making your will. Be sure you understand at least the basics of the job.
In most situations, it's not a good idea to name co-executors.
Serving as an executor can be a nightmare--you can spare your executor the headaches if you get organized now.
Updating or Revoking Your Will
When your life changes, your will should, too.
Don't bother adding a codicil to an old will--it's only likely to cause confusion. Start fresh.
Most people make more than one will during their lifetime. Here's how to make sure the old one really goes away.
It may be time to update your will, healthcare directive, and other documents.
If You Don't Leave a Will
A probate judge who doesn't know the deceased person's wishes must turn to state law when appointing someone to wrap up the estate.
If you don't leave a will, your state's law will dictate who inherits your property. Is that what you want?
Leaving Property to Your Children
If your children are young, you want to make sure an adult will manage any money they inherit before they're ready to handle it themselves.
You don't have to choose between disinheriting a child and leaving them money that you're sure they'll squander--instead, you can put protections in place.
If your kids weren't so great about sharing when they were little, think twice about leaving them a house together
Don't rely on your current spouse and children from a former marriage to "work it out" when the time comes.
Looking at their spending habits as children or teens, you might never want to let your offspring get their hands on an inheritance--but eventually you have to let go.
Unusual Gifts
If working for your favorite candidate isn't enough, think about remembering your political party in your will.
Can you use your will to leave your precious season tickets?
Learn about the gift of debt forgiveness.
More Questions About Wills
Help With Making Your Will
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