Key Points to Remember While Making a Will

June 10, 2014: Writing a will, and that too an effective one, may not be an easy task. For most people it is best to get help of an attorney. However there few things that we need to be aware of before seeking legal counsel.

Exercise This Precious Gift Carefully
Our right to make a will and distribute our assets according to our wishes is given to us by our state of residence. To ensure that a will is properly drafted we need to abide by certain guidelines.

Sound mind
The right to make a will must be exercised while we are in sound mind. We must be fully capable of comprehending the ordinary affairs of life including the extent and character of our property.

State Statutes
If we do not follow the directions of the state statutes our will may be invalidated. Signing the will in the presence of required number of witnesses; having the witnesses sign their names and addresses are two of the major rules to be adhered to.

Witnesses
Some states require three witnesses while others require two. Having less than the required number of witnesses may void a will. Further none of the witnesses should have any interest under the will nor be a beneficiary. Our attorney will ensure that the will is executed with proper formalities.

Executor
It is important to select our executor or personal representative with utmost care. Having an alternate representative is also a wise thing to do in case our first choice is unable to serve. It sensible to check with the individual(s) or institution(s) to ensure that they are willing to accept the responsibility.

Original Will
It is advisable to leave the original will with the attorney. A copy of the will should be given to the named executor. To leave the original in a safe deposit box, which may be sealed on our death, is of little use.

Making a will while everything seems to be working fine is a prudent step to take. We hope this post on a will will :-) help you get started.

Image Source(s): iStockPhoto

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