When it comes to distributing your property, naming guardians for children and making charitable donations, a will allows you to be clear and concise. It also helps to simplify the probate process and reduce family strife. If you die without a will, your state’s laws will decide how to distribute your assets. This can lead to costly legal battles and delays, and may not produce the results you would like. A will also provides your executor with clear instructions about your wishes, which can help expedite the probate process and minimize taxes.
There are many reasons to get your will written, but you must remember that the rules governing these documents vary by state. It is possible to draft a will yourself, but the AARP website warns that doing so could leave your wishes unclear and open to challenges. In addition, you must have two witnesses and a notary sign it to make it valid. In some states, a will is not considered a valid document unless it is drafted by a licensed attorney or meets certain requirements.
In some cases, a simple will will suffice for most people, but you get a will written can also choose to create a trust-based will. These wills are typically used for families with young children, as they can establish a trust to hold onto assets until your children reach specific ages or life milestones. This can give you peace of mind that your children will be cared for in the way that you would want them to.
A will can be as simple or complex as you wish, but it should always include a declaration of your final wishes and who you want to manage your estate. It should also list your beneficiaries—friends, family members or charities you care about. The list can be as broad or as specific as you would like, such as “my children” or your second cousin Danisha. Beneficiaries can also be physical possessions, such as your Italian Greyhound.
AARP offers a variety of will-writing programs and kits, but you should consult a lawyer if your estate is complicated. The lawyer will be able to determine what type of document is best for you and will ensure the proper forms are included. A lawyer can also help you minimize the amount of tax paid by your estate and prevent costly mistakes.
Creating a will is a good idea for everyone, no matter how much or little they have. It will help your loved ones avoid conflict and confusion after your death, and will give you peace of mind that your wishes are in order. While it’s easy to put off getting a will, doing so can cause your loved ones stress and confusion at an already difficult time. By getting your will done, you can avoid leaving these issues to chance. AARP’s will-writing service costs just $12 for your first year when you enroll in auto renewal. It’s a small price to pay for the peace of mind that a will gives you and your family.