There are many reasons to work with an attorney to write a will. For example, you can reduce headaches for loved ones, lower the estate taxes, and make sure that your children are taken care of. However, you’ll need to include the correct elements in the will to ensure you get all the benefits. Here are a few to consider.
What Should I Include in a Will?
1. Executor Designation
You’ll need to designate someone to represent the estate in court, distribute the assets, and file the will with the probate court. Pick a person who you can trust to handle the process. Some people choose an attorney, while others appoint a family member who’s responsible and financially savvy. Avoid individuals who have debts or no credit history.
Keep in mind that the executor doesn’t need to live near you; they can visit your property once or twice to take care of moving furniture and other matters, or they can hire a local company to handle any in-person work.
If you have children who are minors, designate legal guardians for them. For example, many people choose a married sibling or close family friend. However, select a different person to be the trustee. You don’t want the legal guardian to be in charge of the assets as well.
When selecting a guardian, choose someone with shared values, making sure they have a similar parenting style to you. Also, pick an individual with financial resources. Raising and educating a child is expensive, and you don’t want to impose a burden on someone who can’t handle it.
A will is the best place to name inheritors and distribute assets. Some people choose to split their assets equally among their beneficiaries while others do so unequally. For example, you can leave 75% to a child and 25% to a sibling. If you own a piece of real estate, you can pass it on to your inheritors. However, think about future scenarios and be clear about your wishes. For example, what if one of your children wants to sell the property while another doesn’t? An attorney can help craft appropriate language to prevent conflict in the future.
If you’re looking to draft a will, contact Cecil, Cecil & Barker in High Point, NC. Serving Guilford County, their attorneys have over 65 years of combined experience. They’ll help you with everything from preventing family conflict down the road to ensuring that the children are protected and cared for. Call (336) 883-8383 to set up a consultation, and head to their website to learn more about their services.