Creating a will is very vital but most people don’t go with it as they think its time consuming or can be high on budget but the reality is if you do so it eliminates conflicts, confusions & you can make sure in your life that your property is being given to the people you want to delegate not otherwise.
Creating a will is not difficult at all & most of us don’t even need to hire a lawyer for it.
However, some cases do require the guidance of estate planning lawyers where there are more complications as that would help one do it without any mistakes. But that also requires some basic awareness on your part. Check out here to get an idea of what you should know when working with an estate planning lawyer. Let’s start with some simple steps.
1.Decide which form of will you want.
Well there are many kinds of will ; one opt according to the mode & nature of assets & property they acquire. Some go for simple will others go for living trust as well. But simple will work out for almost 85 percent of people among us.
2. Sort out what possessions to include in your will.
Make a list of all belongings, items & accounts you posses & in next step think of delegating it to someone you want: To make it more easy lets categorize it like this:
- Assets, e.g home, vehicles, and other commercial property you own
- Accounts in varied banks
- insurance of any kind
- Animals & Pets if any
- Personal items
3. Choose Beneficiaries
Once the list oof assets is in your hand then decide what to delegate & to whom to delegate. Some people do it by their own & few takes the input of their families as well & if you take the help of estate lawyers specify is going to help them.
4. Decide on will executor.
Executor is the person you nominated to execute your desires or for distribution of your assets. This can be your spouse, adult child or close friend as well. At time one takes the help of estate lawyers or Calgary wills lawyers as well & for that they can charge their fee but your family remains safe from many conflicts if one is living in extended family.
5. Choose Caretakers for your minors
This is the most prime job. If you are having kids below 18 & to deal with these undue circumstances decide on guardian & let that person know if he/she is ready too take this responsibility. If you die without nominating then kids become the responsibility of the state & they let them go into their care systems & procedures till they became 18.
6. Signing will to make it legal by adding witnesses
This step is very integral as you need to make your will legal as per estate lawyers & it should be in your own handwriting by adding witnesses which cannot be your beneficiaries.
7. Put your will in a safe place.
Once you are done with the above step you can put it in a safe drawer, or at a trusted attorney’s office or any estate lawyer or Calgary lawyer depending on the nature & terms of the will.
8. Speak to your executor how to approach your will.
It only helping if everyone is known about the process. So speak up to the executor & to your loved ones.