You’ve taken the important step of addressing your estate plan, but there’s still some way to go. You’ve decided to focus on your will first and build on this.
Essentially, your will should include the desires that are most important to you, your final wishes. However, it isn’t always easy to focus on these and consolidate them into concise instructions.
Outlined below are a few important factors that you may want to consider.
Who will oversee your instructions?
While you can generate a will on your own, this is typically not advisable. The law around estate planning can be tricky for the average person to navigate. You’ve made a wise choice and sought guidance to draft the document, but you still need someone to carry out your instructions as intended.
This person is referred to as the executor. Ideally, this should be someone who will be around long after you have gone. You might even have the option to use the same people who helped you draft the document in the first place. Trust is the central issue when nominating an executor.
Who will be included in your will
Of course, one of the most important aspects of your will is deciding who will inherit your property and assets. Do you have children who are going to depend on your financial support in the years to come? Do you have friends or a significant other who have no guarantees of inheritance if it is not clearly written down? It’s vital to include precise instructions on who you intend to be the beneficiaries of your will. This will help to avoid legal disputes once you have passed.
Taking that first step to address your estate plan is pivotal, and you can bring your final wishes to fruition with a little support. Seeking guidance from someone with experience in estate planning will help make you aware of your options.