Although no one likes to think of passing away, it's important to devote some time to putting together your will with the help of an attorney. Having a proper will in place in the event of your death will make life easier for your loved ones and prevent the government from excessively interfering with your assets. Hiring an attorney who specializes in writing wills will make the process go smoothly, but before you make this call to schedule your appointment, you'll need to think about the nature of your assets and the relationships with those around you and ask yourself some key questions. Knowing this information in advance will make the will-writing process run more smoothly. Here are some things to ask yourself.
What Happens If My Children Get Divorced?
It might not be pleasant to think about, but the reality is that many marriages end in divorce. Assuming that you're dividing your assets between your children, you'll need to think about what might happen if a child gets divorced. There's no right answer to this situation -- you need to choose what feels right. Should the two spouses get your assets equally? Should all the assets go to your child rather than his or her spouse? Will any assets be held in trust for the couple's children? You need to have a clear idea of your wishes in this regard so that your attorney can write them into your will.
Who Can I Name As A Backup Executor?
Figuring out the person who will serve as executor of your will can often require some significant thought, but you shouldn't stop upon identifying this trusted family member or friend. It's ideal to also list a backup executor -- especially if your primary executor is getting up in age and there's a chance that he or she might pass away around the same time as you. Putting a backup executor in place in your will can ensure that the process goes as smoothly as possible.
Do I Have Any Liabilities I Haven't Thought About?
People often find it easy to list all of their assets, but the less-thrilling part of putting together your will is thinking about your liabilities. You need to be proactive on this front because upon your death, those to whom you owe money will be seeking to collect. If there's no record on your will of having these liabilities, it will be stressful for your executor, so make sure that you've thoroughly considered anyone who should be included in this list.
Once you've thought through these questions, talk with an estate or probate lawyer for more info on writing your will.Share