Best Practices & Whom You Should Get Advice From When Writing A Will

Never Underestimate the Importance of Networking-Chispa MagazineWriting a will is one of the most important steps in life. According to a 2016 Gallup poll, 55 percent of Americans do not have a last will and testament written and 86 percent of Americans under 30 haven’t written one. There’s plenty of life events that can happen before you turn 30 that are cause for writing your last will and testament.

People, especially those with complex lifestyles, need the help and assistance of a professional to advise them. In this article, you’ll read about the best practices in writing a will and whom you should choose to trust.

How do I know if I should write my will? There are plenty of life events that are cause for drafting your will even if you think it may be too early. When we file taxes, there are certain life events that take place that we report. Those same life events can be used to determine when to start or change your will. Here are a few examples of these life events.

  • Getting married/divorced. You’ll want to consider what you leave to your spouse or reconsider if you leave anything to them.
  • Having children. Similar to marriage, you may choose to leave some assets or money to your children for college or to take care of their future families.
  • Entering the military. This is a big life decision that can put you at higher risk of death. You’ll like be instructed and assisted by the military in drafting your will, but you can get ahead of the curve by doing it before hand if you know you plan to enlist.
  • Gaining an inheritance. In this circumstance, you’ll have added assets that you want to include in your will or risk them falling into the state’s hands.
  • Big purchases. Whether it’s a car, house, or vacation home, you probably want these assets to go to someone important to you rather than left to the state.

How do I get started? Beginning the process of writing your will can be intimidating. There are plenty of resources and help available to assist you. There are a few things you can do to get started on the right path.

  • Become familiar with the laws that your state has for writing a will.
  • Assess your assets so you know what to include when you get started.
  • Evaluate your relationships to determine who you direct assets to and make the executor of your estate.
  • Research professional services that assist with creating your will. They can help determine other directives, like health care, if you are unable to make a decision at some point regarding your estate.

Who can I ask for advice? You probably have some important people in your life already and value their advice. However, some may offer better counsel when it comes to your will. You want to make sure those you speak with support how you want your assets to be left after you’re gone and will carry out your wishes in your absence.

  • Parents/grandparents. There’s a decent chance your parents and grandparents have had some experience writing a will or carrying one out. They can offer some invaluable insight, and you may learn about some assets in your family history that need to be included.
  • Spouse. Whether you are newly married or have been for a while, you chose your spouse to be your partner in life. It’s worth getting their thoughts on what to include in your will and learn what is in theirs if they have one.
  • Children.  Consult your children if they are grown, especially if they have children of their own. They may desire your considering leaving some financial support for their family be included.
  • Mentors. It can be difficult to find a truly good mentor in life, but if you do or have found one, ask them if they have any advice for you regarding this process.
  • Lawyers. You’ll likely work with a lawyer when creating your will. They likely have immense experience with different types of situations and can provide the best legal advice for yours no matter how complicated it may be.

Now that you have some tools and tips to get started, you can start thinking of putting your desires on paper. It’s important to keep in mind this process can take a long time, so be patient and seek advice if you feel stuck. This is the final way you will leave your impact, and you control what that impact is once your will is written.

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Milo Senalle

Milo Senalle

Managing Editor at Chispa Magazine
As one of the managing editors of Chispa Magazine, Milo Senalle is the go-to man for all things technology, ethical, and financial concerns. Providing laughs with his style of writing and problem-solving techniques, Milo is a voice of reason among the girly staff at Chispa. Married with children, living in Atlanta, he works 24/7 on becoming a man of courage and believes honor begins at home.

Milo Senalle

As one of the managing editors of Chispa Magazine, Milo Senalle is the go-to man for all things technology, ethical, and financial concerns. Providing laughs with his style of writing and problem-solving techniques, Milo is a voice of reason among the girly staff at Chispa. Married with children, living in Atlanta, he works 24/7 on becoming a man of courage and believes honor begins at home.