Making end-of-life arrangements can be bittersweet, but you need to be prepared for everything that’s to come. If you’re thinking about making a will, then you need to include these things with the advice of your estate planning attorney PG County. Keep on reading to find out more.
A lot of people mention how they want their funeral to go about, in wills. It’s pretty common for the owner of the will to write this information down for the ones who are going to carry out the funeral in the future. There are a lot of ways by which a person’s funeral can go about.
You need to ask yourself a few questions before you can write down what you want. Do you want to be buried somewhere special? Do you want your funeral to be on a specific day? Do you prefer to be cremated or embalmed? Do you want your ashes to be spread somewhere? Who will be there at your funeral?
These questions and their answers are going to set things into perspective for the ones who will be carrying this task out, so you can make it easier for them. It is probably the first piece of information you get when you’re reading a will and that’s a must to include, as an owner, in your last document to the world and your loved ones.
Division Of Assets
Another thing that needs to be on your will is the information about your assets and how you want them to be divided among the beneficiaries. While you’re at it, try to mention the names of the primary beneficiaries as well, because that’s going to make things a lot easier. This is also just as important to include in your will as your last wishes because this is the essence of the will and if you haven’t communicated anything with your family beforehand, it’s a good thing to inform them and keep the information thorough and easy to understand.
This inclusion makes the will a very important and confidential document, so if you’re including sensitive information like this, then it’s best that you have the lawyer be the keeper of the will, until the time comes to disclose all of the information on that piece of paper because the last thing anyone wants is someone to take advantages of the will.
So, play your cards safely and always have a backup plan in case of unwanted situations because those are more common than you can imagine and you don’t need more trouble.
How Many Assets You Have?
This inclusion kind of ties in with the previous one, but it’s a bit more detailed and it will show how many assets you have. This is also an important piece of information to unveil because you don’t want to keep your loved ones and family in the dark. So, it’s best to put it all out there and mention all of the assets you have and then also give a summary of how each asset should be divided among the people/beneficiaries.
You might be thinking: why is it important to mention the number of assets? Well, that’s crucial, because a lot of the time, it’s important that your family knows about all of the places where your money is invested because after your death, they’re going to have needs, and the assets you left for them are going to help them out, to stand on their own feet.
You need to mention all of the tangible and intangible assets you have, and your wills and trust attorney Bowie would recommend you to do the same because keeping things in the dark won’t do you or your family any good. So, be open and honest about everything and include it in the will.
Who The Executor Will Be?
If you’re unaware as to who an executor is, he/she is a person appointed by the owner of the will to carry out all of the commands mentioned in it. They’re also the people responsible for guiding the beneficiaries and heirs as to what the next steps will be and all that.
Choosing an executor is something the owner of the will has to do in their life when they’re able to make coherent and wise decisions. So, if you’re trying to make a will and want to go for an executor, then now is the right time to start. It’s not rocket science at all and you just need to meet up with your lawyer and give them a run-down on all of the things that you have you can also give a couple of options as to who will be the best choice, in your opinion, for the executor.
If you want, you can also appoint a lawyer as an executor if you don’t have any eligible candidate that’s coming to mind. The executor must be someone that you can trust to take care of things after your demise, so you need to choose that person wisely.
Wishes & Statements
In a will, some wishes, demands, and statements can be mentioned by the owner. There are a lot of things a person needs to do to prepare for their end-of-life arrangements and sometimes, things can be left undone, which is why wills are there to navigate the person reading, as to how they want things to go. There might be the inclusion of things that need to be paid off, some debts that the owner owes someone. There also might be some money or things that need to be handed down to a specific person or friend.
The division of assets might be strategic and the owner of the will might mention how things will be divided, for ease. There can also be certain wishes that need to be fulfilled by the people left behind. The owner might wish to visit someone and you’ll have to do it on their behalf, they might wish for certain things to go about a particular way and that needs to be done as well. So, a will is a collective document on everything the owner has to say one last time and all of that can be included in it.
Your Personal Information/Life
As your kids get old and they’re going on about their lives, they might not find the time to spend a lot of it with you, which is why a lot of the time, they’re unaware of what you’re doing. This is what you can include in the will as well.
What you’ve been doing in your life, important details about your friends, relationships you’ve had, and everything in between. This is done, in most cases, to familiarize the children with their parents again and it’s also to keep everything in the open.
A will should be a go-to document that anyone can refer to, after your death and know exactly what you want. These things are just some of the important things that need to be included in the will. In any case, trust your gut feeling and the experience of your estate planning lawyer Upper Marlboro. And keep your heirs in the loop.