Writing a will doesn’t need to be a sombre thing to do. You could write it when you are 50 and healthy just in case something tragic were to happen to ensure your assets were distributed the way you want them to be.
Or, you may write a will when you’re younger but have some assets that you want to consider if you were to pass away. If you do decide to write a will while still relatively young, just be sure to update it occasionally and after a major life event happens such as a marriage, divorce, or purchasing a home.
Can I write my own will?
It’s perfectly fine to start writing a will on your own without any sort of legal advice. This might be the best way to start so you can get all of your thoughts down on paper before a lawyer comes in. After you have an outline for your will, it is best to get a lawyer involved. They can ensure everything you request can legally happen and will benefit those you want. A lawyer will also help you consider rare events such as an incident where the entire immediate family dies.
Other factors to consider
If you are ever unable to make decisions for yourself, you need to have a power of attorney. This is a good thing to have no matter your age. You never know when disaster might strike and you become incapacitated. This person you choose will then act on your behalf to make financial and legal decisions. To make sure no one person has all of the power, you can have more than one person appointed as your attorney.
What a will may include
A will can do more than act as a roadmap for how you want your assets dealt with after your death. For example, you may want to be cremated and have your ashes spread by friends and family at certain spots that were meaningful to you. Also, even if you aren’t wealthy, you can still decide to leave sentimental items to certain people so that they might be cared for after you are gone.
What happens if you don’t have a will?
If you chose to not have a will, then your assets will be left to your closest family members. This can easily cause disagreements within the family during an already stressful time. Writing a will is the only way you can truly ensure your assets are given to those you want. When someone dies without a will, relevant legislation decides who gets what. If you don’t have any close family, your belongings might become the property of the government (depending on the state you reside in).
How much does it cost to make a will?
Making a will doesn’t need to be expensive. If it isn’t a complicated will, it could just be a minimal monetary investment now to save your family legal fees later. If you want, you can start with a do-it-yourself kit to get a solid foundation. But, it is recommended that someone with legal authority looks it over to confirm that it is legally valid. You would not want there to be legal confusion, creating more expenses and delays after your death.
To get started writing a will, the government has several documents that might help you create a plan and become familiar with the process. If you have a particularly large inheritance, it might be wise to enlist legal help early on to keep everything in order.
With any luck, your will won’t be needed for many years down the road. But unexpected life events happen all of the time, and it can’t hurt to be prepared for the worst. Your family will be thankful that you had the foresight to plan ahead and have everything in order before your departure.