When you read about celebrities who died without a will, including Aretha Franklin, Michael Jackson, Kurt Cobain, and so on, do you ever think, “Well, not me, I’m definitely writing one.”?
If yes, great. Writing a will isn’t easy for a lot of people, which is understandable because not everyone’s prepared to die. Still, you have to remember that your loved ones are counting on you to make one.
After all, you don’t want to be the reason why your family members are fighting in court. That being said, let’s talk about some tips for creating a will for free.
1. Make a List of All Your Belongings, Savings, and Estate
Don’t leave out anything, and make sure you’ve put together all the necessary paperwork for the properties you own. If you have a collection that you would want a specific person to inherit, you also need to include it in your will.
Keep in mind that the more specific you are when it comes to listing your assets, the easier it is for your executor to distribute. You’re also making it easier for your loved ones if your will is 100% clear that it leaves no room for disputes.
2. Choose Your Beneficiaries
Whether it’s an online will or a handwritten one, it has to include all your beneficiaries. Even if you wish to leave all your assets to one person, you still have to specify who he/she is in your will.
Now, if you have money that you want to go to a certain individual without having to go through probate, you can designate a POD.
3. Select an Executor and Name Guardians for Your Children
An executor oversees the distribution of your estate, so this person has to be responsible, level-headed, and trustworthy.
If you can’t choose who to name as an executor among your loved ones though, you can hire an attorney. Another thing to consider is if you have children who are minors, you’ll have to decide on who their guardians will be when you’re no longer around.
4. Ensure Your Will Is Valid
When you make a will online, you need to sign and date it, then you have to let witnesses sign it as well. The number of witnesses you need to make a will valid depends on where you live.
Take note that when choosing your witnesses, they cannot be one of your beneficiaries. They also have to be 18 and older, of sound mind, and can visually confirm that you have signed and dated your will.
5. Update Your Will as Needed
Going through a divorce, remarrying, having more children, and so on are some life events that should make you think about updating your will.
And even if there aren’t too many changes in your life since you last made your will, it’s still always a good idea to review it every now and then.
Need More Tips on Creating a Will for Free?
Now that you know some tips for creating a will for free, are you still looking for more tips and advice on writing a will?
We can help. Check out our other posts to know more about trust and estate planning.