Writing a will is something that many people do not like to talk about, but it is important that you create one and have it in place for when you pass. The main purpose of a will is to outline all your wishes regarding your funeral service, as well as what happens to your estate. Here are factors to consider before creating a will.
Don’t Make It Yourself
With a wide variety of websites offering tools for you to create your own will, it is important to bear in mind that there are very few people who have a financial situation so simple that they do not need a lawyer. Creating a will on your own can be incredibly confusing, especially if there are many factors that need to be considered beforehand. Creating your will with an estate lawyer will ensure you avoid making any mistakes in the long run.
Know Your Assets
Before visiting an estate lawyer, make sure that you take time to identify your assets. These can include your credit cards, investments, retirement funds, and bank accounts. There are also various digital and biological assets that you should consider. Digital assets do not just include your online bank accounts, but also other accounts, such as a social media account that may generate you extra money. This is another reason why it is so important to seek outside help, rather than doing it all by yourself.
Planning Your Funeral
Your will should also clearly outline how you want your funeral or memorial service to happen. If you have a belief or faith, you will need to include this in your will, so family members know what type of service you want. If you want to be cremated, make sure to visit the website simplecremation.org. When looking at Simple Cremation, you will be able to receive more information by requesting a free planning guide which will help you to understand what a cremation service will entail. You can also find out more information about the prices and packages available.
Selecting Your Trustees
If you have younger children, it is crucial that you name their legal guardians in the event of your death. Clients are advised not to choose the same person to be both the trustee and the legal guardian. Having one person in charge of everything can cause problems, so it is best to keep them both separate. Also, if your children are older and do not require a trustee, it may be beneficial for them to find a financial planner who will be able to help assist them with their finances.
Creating your will sooner rather than later is incredibly important. That way, you can be safe in the knowledge that all your wishes and commands are outlined accordingly. Remember, you can edit your will at any stage, so should you need to do this, make sure that you contact the lawyer who created the will.