When you create an estate plan, you need to write a will. This document might seem old-fashioned, but it still plays an important role in the estate. Without one, the state will determine who gets your assets based on intestate succession laws, which outline exactly what will happen based on a person's relationship to you.
There are several things that you need to know about writing a will. All of these work together to ensure that the will is deemed valid in court. Here are a few things that you need to remember:
- You must have a sound mind, which means that you understand exactly what the will is going to do to your assets and for the heirs when you pass away.
- You need to be at least 18 years old unless you have joined the military or are married.
- Your will must not be made under duress. You have to voluntarily include the provisions that are listed in the document.
- All of your assets and property that you are distributing must be clearly listed in the will along with instructions about where each item will go.
- Your will must be witnessed by two other people who aren't named in the will. They must watch you sign and date the document so they can attest to it containing your signature if there is ever a question raised.
Your will doesn't have to be fancy as long as it meets the requirements of the law. Getting started with the will creation can help you ensure that your heirs know who gets what when you aren't around any longer.