3 Things to Keep in Mind When Making a Will

Though many people associate making a will with getting older, the truth is that making a will is important at any age. In fact, many people say the sooner you create one the better. That way you can ensure that your assets and personal property are taken care of accordingly should anything happen to you. 

Although it is not very fun to consider that something might happen to your well-being, unfortunately, it’s something to consider. A well-crafted will can help reduce the risks of your personal belongings going places they shouldn’t, and also reduce the risk of family disputes. 

Here are some essential tips that you’ll want to know when making a will that can make a significant difference.

Choose Your Executor Carefully

Selecting the right executor is critical when creating a will. An executor is the person who will be responsible for managing all of your belongings and making sure your final wishes are carried out. They have a wide range of responsibilities beyond this including collecting assets and paying off your debts.

While many people may automatically opt for a best friend or family member, sometimes this is a big responsibility to ask someone, and not everyone may be necessarily open to the task. Before making someone your executor make sure that you get their consent first.  If you have the feeling that your state will be rather difficult to handle, consider hiring a professional executor like an attorney or a financial advisor.

Be Clear

Perhaps one of the most important things you could do is be as clear as possible with how your assets should be distributed. One of the biggest causes of conflicts and misunderstandings is a lack of clear communication on your will.  From specific items to real estate, make sure that you avoid vague language.

This is especially important if there’s a significant difference between assets. It should be as detailed as possible about who should get what and exactly how much. Otherwise, you risk serious feuds between family members. Ideally, you should talk to your family members about what will be distributed ahead of time so that they won’t take it badly or get into disputes with other family members when they see the will.

Consider Your Children

It’s important that you consider more than just your personal belongings when making your will, too. If you have children under the age of 18 you want to make sure that you name a legal guardian. This will ensure that they are with someone you trust rather than going to state care.

Only consider individuals that you not only have a strong bond with but also share your parenting philosophies. Remember, as much as you might think a will is merely an extra precaution, things can and do come up that may lead to what’s on your will actually coming true. So choose carefully when filling it out.