A will is the final testament of a deceased person and spells out who will receive money or other assets when that person passes. There are a few steps to take to help ensure that the document will be enforceable. First, it is important to get rid of any older versions of a will as this will reduce the odds of a challenge to that document in court.
The next step is to fill out the document with information specific to the person creating the will. Most will forms contain blank lines and other filler information that needs to be replaced with the name of the person creating the will as well as other information needed to make the document binding in the state where the individual lives.
After it has been filled out properly, it is important to make sure that all children or grandchildren have been included in the will. Failure to do so could increase the odds of a legal challenge in court. However, leaving as little as $1 proves that the person who passed away did not forget to include anyone in the document. Now that the will has been prepared, sign it in front of relevant witnesses and choose someone who can execute it faithfully when the time comes to do so.
Prudent estate planning can lessen the tax burden on family members when a person passes on. It also makes it easier to know that cash and other assets will go where a person intends them to go upon his or her passing. Consulting with an estate planning attorney may be a good idea no matter how old the individual may be.
Source: LaPorteCountyLife.com, “Steps to Completing Your Last Will and Testament“, June 09, 2014