Are you approaching your twilight years and have no idea what will become of your assets after you pass? A will should always be made whether you have many assets or very few. Several assets that you own can be listed in a will. Such assets usually include personal belongings, stocks, savings accounts, etc. So now you have a list of what you would like your family and friends to have after you pass away. Now what?
Write a will
No matter how many assets you have or what you believe their value to be, always list them in a will. What may have no value to you personally could for a relative. If your relatives or friends discover an item not included in your will that they would like to have, it may be difficult to obtain it if it isn’t listed.
Write your will in the presence of an attorney
If you decide to write your will yourself, do so in the presence of a probate attorney, or they can write one for you. He/she will assist you in how to write it, what to include should you have happened to leave anything out and will advise you on the laws governing wills in your state.
Always have a witness when writing your will
Most states in the United States will not recognize a will if it has not been witnessed. The purpose of a witness is to confirm that you have the mental capacity to formulate a will. Upon completion, not only should you sign your will, but your witness should as well. Do this In the presence of a probate attorney. A word of caution, do not have a beneficiary as a witness as it could create a conflict of interest. It is also best to have at least two witnesses.
Always make multiple copies
Multiple copies of your will ensure that should an accident occur, such as a house fire, you will have a backup copy. Keep your copies in safe places and in the care of entrusted people. And never keep your will in a safety deposit box since many states require the box to be sealed upon the owner’s death. This could create a huge problem for your probate attorney and family after your death.
Are you planning on writing a will? Would you like more information on formulating one? Contact McAllen’s wills and trusts lawyers at Barrera, Sanchez & Associates at (956) 287-7555.