Making a Will
We all know we're supposed to have a will--but most of us would rather clean out the basement, weed the garden, AND change the litter box rather than think about it. But if making a will has finally risen to the top of your to-do list, congratulations! You're taking an important step to take care of your family.
The good news is that for most people, making a will isn't difficult or expensive. Here are tips on where to start, when it's okay to do it yourself, and important provisions to include.
Learn about your state's will laws:
Overview of the Will-Making Process
Overview of the Will-Making Process
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Property You Should Not Include in Your Will
In almost all cases, your will does not affect property that you have arranged to leave by another method. To avoid confusion, you shouldn't include such property in your will.
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Here are the few simple steps you need to take to create your will.
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How to Sign Your Will: The Will-Signing Ceremony
Here is what you need to know about the will-signing ceremony and why it matters.
Kinds of Wills
Kinds of Wills
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Here is an example of a Nolo will, including explanations of many will clauses.
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Searching online, you can find a variety of will templates that allow you to make your own will, without a lawyer. They each require varying amount of work and they range in price and quality.
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Statutory wills are wills created by a state legislature and written into state law.
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A self-proving affidavit is a sworn statement attached to a will, signed by the will maker and his or her witnesses, that attests to the validity of the will.
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If you simply write down your wishes for who you want to inherit your property, have you created a legally binding will? It depends on where you live.
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Writing a formal will, even if you don’t hire a lawyer to do it for you, may seem like a lot of trouble and expense. But simply recording your wishes on video does not make a valid will.
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If you’ve looked into creating a revocable living trust to avoid probate, you may have heard of a “pour-over will.”
Important Parts of Your Will
Important Parts of Your Will
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Leaving Instructions in Your Will for Paying Debts
When you die, your estate may be liable for a variety of debts, expenses, and taxes. How do you want them paid?
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Conditional Gifts in Wills and Trusts
Putting strings on bequests you leave in your will can cause confusion. It's best to seek a lawyer's help.
Updating or Revoking Your Will
Updating or Revoking Your Will
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Moving to a New State? Take a Look at Your Estate Plan
If you move, should you throw out your estate planning documents?
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Why Not Make a Codicil to Amend Your Will?
A codicil is a document that’s added to an existing will, to change or add to it. And it's virtually obsolete.
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The best way to revoke (or get rid of) an existing will is to create a new will to replace it. Merely destroying the original will may not be enough. Here's why.