A will is a document that contains your directions for your assets and dependents to your chosen executor. If you do not make a will, your wishes may not be carried out the way you would like, and your loved ones may end up spending more time and money to settle your affairs. Our friends at McCarthy Law, LLC discuss the more below.
Your Will Should Include The Following:
– Personal Information
– Your executor
– Your guardian for pets or minors
– A list of properties and distribution instructions for your beneficiaries
While it is important to understand what you should put in your will, it is also important to know what you should not put in your will.
While writing your will, you should never include the following:
1. Personal Wishes And Desires
If you would like your funeral or other final arrangements to have certain details, this is likely not the best place to include these wishes. Your will goes through probate and court processes. This will generally happen after your funeral, which means that the instructions left in your will cannot be utilized. However, there are separate final disposition instructions that an attorney can assist you in drafting to aid in instructing your loved ones on your final wishes.
2. Coverage For A Beneficiary With Special Needs
A will is not the best place to make arrangements for those with special needs. This could possibly put their government benefits in jeopardy. Therefore, there likely should be a separate Special Needs Trust that is set up with these arrangements.
3. Assets Left To Pets
Although we may want to, we cannot leave assets directly to pets. In fact, pets should be left in your will to someone who will be their guardian. Be sure to address this when writing your will.
4. Certain Types Of Property
There are many types of properties that should not be in your will, including:
– Property within a Trust
– Property with a designated beneficiary
– Jointly-owned propertyWith these points in mind, you can ensure arrangements are made for your other concerns outside of your will. An experienced estate planning lawyer is a great resource if you have additional questions.