After you pass on, you will want to make sure that those you leave behind are taken care of. The only way to ensure that this happens is to write a will. But even if you write one, if you make any of the common mistakes associated with writing a will, not only can you potentially have your assets distributed in a manner you didn't intend, but some of your assets may not be distributed to your beneficiaries at all.
Update Your Will Regularly
Making a will is one thing, but you will also want to make sure that you regularly update your will as there are changes in the property that you own, the birth of children and grandchildren and changes in relationships between those who are in your will. If you are not diligent, you can risk leaving your belongings to your loved ones asymmetrically or you may accidentally leave someone out. You never know when you might find yourself in a situation where you cannot update your will.
Do Not Make Handwritten Edits
Do not make handwritten edits to your will. The will won't be considered valid by the court unless it is signed in front of at least two witnesses. You are allowed to cross out certain sections of the will, but you can only add portions to your will if two witnesses acknowledge that you did so. The best way to make changes to a will is with the assistance of a wills attorney.
Account for All of Your Assets
Always account for all of your assets. If you do not, your beneficiaries and the courts may become confused over whether you have any more assets. It will also be harder to distribute the right assets to the right beneficiaries.
Choose a Trustworthy Executor
Make sure your executor is someone you can trust. Whomever is the executor will have a lot of power over how your assets are dispersed to your beneficiaries. Untrustworthy executors might try to distribute your assets in a way that brings financial gain to the executor. One option is to leave the execution of the will to a respected wills attorney.
If you are having a difficult time avoiding the common mistakes made when writing a will, it is best to consult with a wills attorney. These professionals will anticipate these common mistakes and will be able to steer you in the right direction.Share