Drafting a will doesn’t have to be overly complicated or difficult, but it does need to be done properly in order for it to stand up after your death and ensure that things are handled as you intended. The following are three tips that can help make sure that happens.
First, you need to address the little things in your will. A lot of people think about the big-ticket items like their life insurance policies and the family home. These may need to be included, depending on whether or not beneficiaries are already assigned, but you also need to think about smaller things like a back-up savings account or important family heirlooms. It can help to sit down and make a list of these types of things before even drafting the will.
Next, be careful when choosing the person who will execute the will. This has to be someone you can trust, and it should also be someone who has the time and the skills to do it properly. This can be complicated and time-consuming, and so it’s not for everyone.
Finally, be sure that you tell at least one person where your will is located. This could be a safety deposit box at the bank, for example. Never assume that you’ll have time to tell people about the will’s existence and location later, or they may never find it if you are taken away from them in an unexpected manner, like a car accident.
As you draft your will, be sure you know all of the important laws in New York and the legal steps that you have to follow.
Source: ABC News, “Money 5 Tips for Writing Your Will,” AJ Smith, accessed Oct. 15, 2015