You can always create a will, but your successors may not be required to adhere to the guidelines presented in it. This can be one of the challenges when it comes to having a will that will be legally binding. Here are some of the steps that you can take to help ensure that your successors adhere to your wishes.
Evaluate All Assets
Sit down and determine where all of your assets lie. This will help to simplify matters so that your successors aren’t left wondering about other possessions and accounts that exist. Write them all out and clearly distribute them the way that you see fit. This can be a little bit of a challenge for some people. You don’t want things to end up being contested, but you also want things to be divided according to your wishes.
Notify Your Beneficiaries
Schedule a meeting with your beneficiaries so that you can inform them of your decisions. This will help to alleviate some of the arguing that can occur if something were to happen to you. It will give you a chance to talk with them and express your wishes so that everyone can be on the same page. Resentments are easier to get over if your successors understand that your will is what you really wanted.
Consider Planning Guidelines
There are basic guidelines when it comes to the estate planning process. Seeking out legal assistance may help you to streamline your decisions. For example, having your will notarized, witnessed, or even doing a trust can help to keep your assets out of probate. This will make it easier for your successors to deal with the matters that are left after your demise. Another benefit of a trust is that you can state your intentions for your care and living conditions as well.
Keep It Relevant
Periodically update your will so that everything is covered within it. This will help to keep your successors in the loop when it comes to new assets that you may have obtained over the years. There is a clause that can be placed in a trust that will designate a personal representative to distribute any assets that were left out of your will. Work with this person so that they have a firm understanding of your intentions regarding your assets.
Every will is slightly different because your circumstances don’t exactly match someone else’s. Take these steps into consideration so that you can create a will for your estate that is legally binding.
Author Info: Rachelle Wilber is a freelance writer living in the San Diego, California area. She graduated from San Diego State University with her Bachelor’s Degree in Journalism and Media Studies. She tries to find an interest in all topics and themes, which prompts her writing. When she isn’t on her porch writing in the sun, you can find her shopping, at the beach, or at the gym. Follow her on Twitter and Facebook: @RachelleWilber.
