When the time comes for you to pass away, all of your property, real estate, and assets will have to be passed down to your beneficiaries as dictated by Probate Law. However, the court cannot just pass your assets down to anyone in your family. That is why you should have beneficiaries. These people will have to be named in your Last Will and Testament.
In this important document, you will indicate your plans for your property and assets and name the people who are to inherit your properties. If you do not write a will, then your family members will be faced with the challenge and become divided as to how to settle your assets. So better to write one and do a favor for your family.
It is important to understand that writing your will isn’t that challenging at all. You will find that a lot of wills are actually written like a simple letter. There are also those that are written in a more formal way. You can actually buy a formal form for writing your will in a number of office supply stores. You can also look for some forms online and print in out yourself. Another important thing to note is that when writing your last will and testament, you should have a witness there. Have that witness sign your will and note the date when you wrote it. You should also get your will notarized; it will be a great help.
When you are in the process of writing it, you should properly construct the contents and ask the guidance of a lawyer. After all, the will is a legal contract. But there are situations where you cannot yet get the help of a Real Estate Lawyer when writing your will, so I recommend that you just write a draft and make changes from time to time until you can get a lawyer to help you and finalize your draft. Make sure that a lawyer will be able to read your drafts so that he can help correct anything in the will.
Once you have already finalized your Last Will and Testament, make sure that you ready more than just one copy of the document. Have a copy of your will for your own which will be your personal copy, one copy that you will give to your witness, and a copy to give to your lawyer. Your own personal copy should be stowed away in a very secure area like a safe. Make sure that you inform your family members of the location of your will and how to access it so that they won’t have to waste a lot of time looking for it. If they don’t know that you wrote a will, then your effort of preparing it would go down the drain.
It is important to know that many things can happen after you write your will and you may acquire new properties, which is why it is important to update your will with the help of your Real Estate Lawyer.