4 Ways To Learn About Will-Making
23 November 2022
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Will-making is an essential part of estate planning and helps curb unnecessary disputes and claims regarding one’s estate after death.
However, some people still think it’s unnecessary to make a will. Yet, with changing times, it is becoming more and more important to sort out your affairs before it’s too late.
Everyone has to leave this world one day, yet as humans, we try to avoid thinking about death as much as possible. However, a lack of planning for matters after one’s passing leaves behind many problems for loved ones.
With disputes over shares, debt claims arising, and other contingent matters arising, family members are often not even able to mourn their loss in peace. Therefore, it is essential to sort out the future of your estate and determine your inheritors well in advance. The way to do that is by making a will.
What Is A Will?
Simply put, it is a legal document that sets out the devolution of your estate upon your chosen inheritors after your death. A will lays out the specific amount of shares each of your legal heirs shall receive, as well as shares that you may wish to donate towards a business or a cause.
While making a will, you can also set out an agent or executor of your will, a trusted person who stands responsible for managing your estate until it is distributed between your inheritors. Such an executor is also required to ensure that the will is executed as per the wishes of the deceased.
You can also include matters such as your preferred funeral arrangements or nominate a guardian for your minor children. If you want to take matters into your own hands, you can go for a DIY probate pack to handle probate yourself.
How Can You Learn To Make A Will?
Making a will is extremely important if you want your estate to be managed and distributed as per your desires.
If you don’t currently have a will in place and don’t know how to go about the process of will-making, don’t worry. We’ve compiled a list of ways you can become familiar with will-making.
Read on to find out how you can learn more about the process of making a will.
1. Start Online
The internet is a great tool if used correctly. There are plenty of guides, how-tos, and other resources available online for will-making. Hence, the first step for you should be to carry out research online regarding will-making.
Find out about the different types of wills, consider if you want to create a trust instead of (or in addition to) a will, and determine the best way to choose your executor.
All these questions can be answered with a little homework on your part. If your estate is not especially large, you may even want to make your will by yourself using the multitude of tools available online.
2. Take A Course On Wills
Access to information and education has increased multifold since the advent of the internet. There are courses and handbooks available on every subject under the sky today.
As such, there are plenty of courses available on wills as well. If you want to learn about the complete working of a will, you may benefit from taking an online course. There are many options you can choose from, such as a will writing course.
These courses teach you the fundamentals of will-making as well as the basic principles of the working of a will. By formally learning about wills, you can put yourself in a better position to make your will yourself, even with a sizeable estate at hand.
3. Study Your Local Succession Laws
Every state has its own set of laws regarding succession and wills. Little things differ, such as some states require two witnesses for a valid will, whilst some require three witnesses.
To ensure you end up making a legally valid and recognizable will, it’s recommended that you take out some time to go through your local state laws. It might sound overwhelming, but the law is not as complicated as we make it out to be.
With a good legal dictionary at hand, you can make sense of any statute and understand the technicalities and legalities involved. All it takes is a little effort and hard work.
4. Consult A Lawyer
The easiest way to figure out will-making is to consult a lawyer. Some specific legal professionals primarily deal with succession matters. By seeking the services of a professional, you can better acquaint yourself with the legal process, which would allow you to make a more sound and unchallengeable will.
By using a lawyer’s expertise in will-making and familiarity with state laws, you can make a will without any legal errors to better ensure that your estate may be distributed as per your wishes.
As an additional note, you may also wish to keep your succession lawyer and/or their team on board for the probate process so that your family and loved ones are able to better navigate through the legalities during their time of loss.
Final Words
You have surely worked hard to build a life for yourself, and by making a will, you can ensure that your estate ends up in the right hands, who will look after it the same way you did.
In the absence of a will, one is said to have died intestate, in which case the general succession law of the state applies, and legal heirs and given their share as per law. The biggest downside of this is that you have no say or control over what happens to your property/estate.
Therefore, making a will is the wisest option. By trying the above options, you can learn all there is to about will-making and equip yourself with the skills required to make your own will.
Alternatively, you can also opt for having a will made by a professional lawyer, but even then, familiarize yourself with the process so you can make decisions that are in your own best interest.
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