Preparing a will from an early age is a wise decision. It may not be so expedient once you’re old and senile. Nearly half of all Americans die without proper wills.
Every adult must have a will, or the government will step in and appoint a stranger as executor to manage your estate. In addition, he must appoint guardians for his children and leave money and gifts to his spouse, children, designated heirs, and friends. An important task is to attach an executor of his will, who will take care of the efficient administration of his estate after his death. Making a will is prudent and, if done with foresight, will provide security and well-being for your family after his life.
You may also want to change your will from time to time. This happens when your marital status changes, a child is born or adopted, your address changes, there are big changes in your finances, or you want to change a beneficiary or executor.
So how do you go about making a will? First make a list of everything you own: your car, house, jewelry, furniture, bank accounts, stocks, and life insurance. Then make another list of your debts: subscriptions, installment sales contracts, and loans. The next thing is to find a good lawyer. Ask at public offices or check the phone book or local citizen’s office.
The other alternative is to buy a kit to make your own will. To facilitate these procedures, there are special last will and testament kits available on the market. These kits can be easily downloaded and ordered from legal websites. The kits consist of printed or paper instructions and actual will forms on paper or on a computer diskette. This allows you to review and change your will as and when you want.
These kits save a lot of legal costs and time. But they are more prone to legal disputes. In short, if you can afford it and you have time, there is nothing better than hiring the services of a good lawyer to take care of your last will and testament.