Writing a will is an essential part of estate planning, ensuring that your assets are distributed according to your wishes after you pass away. However, many people make mistakes that can lead to their wills being contested or not being upheld. Here are some dos and don’ts to keep in mind when writing your will:
Do:
- Seek Legal Advice: Consulting with a lawyer who specializes in estate planning can help ensure that your will is legally valid and accurately reflects your wishes.
- Be Specific: Clearly identify your beneficiaries and the assets they will inherit. Avoid vague language that could lead to confusion.
- Update Regularly: Life changes such as marriage, divorce, or the birth of children may necessitate updates to your will. Review it periodically to ensure it remains current.
- Consider Guardianship: If you have minor children, appointing a guardian in your will ensures they will be cared for according to your wishes.
Don’t:
- Forget to Sign Your Will: A will is only valid if it is signed in the presence of witnesses. Failure to do so could result in it being deemed invalid.
- Leave Out Digital Assets: In today’s digital age, it’s important to include instructions for your digital assets, such as online accounts and cryptocurrencies, in your will.
- Disinherit Spouse or Children: In many jurisdictions, spouses and children have legal rights to inherit part of your estate, even if you exclude them from your will. Be aware of these laws when drafting your will.
- Rely Solely on Online Templates: While online will templates can be helpful, they may not account for your specific circumstances or local laws. Consulting with a legal professional is advisable.
By following these dos and don’ts, you can ensure that your will is well-written and legally sound, providing peace of mind for you and your loved ones.
