Have you decided that it's time to write out your will, but you're not sure what to include in it? If so, you'll want to put the following things in it to make sure that all the basics are covered.
Identify Who You Are
Since you are the testator that is going to be writing the will, you need to identify who you are to avoid any confusion about who's will it is. It helps to write down your full name and address to make this perfectly clear to anybody reading the will.
Include A Revocation Clause
Even though it is your first will, it is important to include a revocation clause. This clause states that all previous wills are invalid and that the will that is being read is the most current version of the will. Once again, this is to avoid confusion with trying to locate older wills that could have conflicting information.
Name The Executor Of Your Estate
The executor is going to be the person that is in charge of handling your state after you pass away. It is a good idea to ask someone to be the executor so that they are familiar with the responsibilities and are willing to accept them. However, it is a good idea to list a second executor in case the first one is unable to perform their duties.
Include A List Of Assets
A big portion of your will is going to dictate who will receive which items that belong to your estate after you pass away. You will want to provide information on who will receive cash, assets, and property. Focus on the big items to make sure that they are covered and go to those that you intend to receive them.
Include A Residual Clause
The purpose of having a residual clause is to deal with everything in your estate that is not specifically listed. For example, you may identify what will happen with major assets in your estate, but not all of the small stuff. The residual clause is like a catch-all clause for all that small stuff.
Include An Attestation Clause
A will does require that witnesses verify that you have signed the will in question. The attestation clause states who the witnesses are and provides your verification that they are the witnesses. They will not sign the will as witnesses until after you have signed the document.
Contact a company like Wright Law Offices, PLLC to learn more.