	How to Prepare for the Death of a Loved One
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Estate Planning for Beginners: Creating a Will

The Will should include at the very least these important parts:

The testator’s (creator’s) name and crucial information
Nomination of an executor to carry out the wishes of the testator
The naming of the beneficiaries
Instructions as to how the estate should be distributed to the beneficiaries
Signature of the testator and the date signed
Signature of witnesses and the date signed

As previously mentioned, this is a will in its most basic form, but in fact most wills will also contain instructions for probate, instructions regarding the payment of debts and taxes, the names of any organizations to receive charitable distributions, a mention of relatives who may purposefully NOT have been named, and more.

Because a will can be so basic, many people believe that a will can easily be created on one’s own, without the help of an estate planning professional; in fact, there are plenty of companies who offer “Do It Yourself” will creation software for a fee. However, it is important to understand that while a will itself can be very simple; the federal and state tax and probate laws are rarely so. If you feel your estate is small and your wishes are modest then by all means keep your will short and sweet as well. However, we strongly urge ALL of our readers (even those with small and simple estates) to have an estate planning professional at least review your will and advise you as to its validity before you sign it and tuck it away.

This is for informational purposes only and not to be construed as legal advice. You should consult an attorney for expert legal advice.

Tags: Estate Planning for Beginners



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