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How-to Write a Will

Нow-to._ Write a WILL а - Offers Step-by-Step, DIY Guidelines to Writing Your Will. Inventory Think Small then Go Big Unproductive Property (Legacies)- itemize all the small family heirlooms and personal belongings that are of value to yoU such as artwork, jewelry, furniture, and cars. Plus, any items of sentimental value. Safety Deposit Box items |Going a Bit Bigger Cash Assets - including money in checking accounts, savings accounts, money market accounts, etc. Intangible Personal Property – stocks, bonds, and other business ownerships, copyrights, etc. The Big Dogs Real Property - real estate, land and buildings. An attorney can come in handy when dealing with estate and taxes. Residuary Estate - This is something not specifically left to anyone. You can designate a"residuary beneficiary" who will inherit the remaining assets not left to other named beneficiaries. Digital Assets - it is important in this digital age to allocate access to your online accounts. Be sure to itemize your digital assets and administer access to the appropriate beneficiary. Most popular online account services like Facebook, Gmail, LinkedIn and Twitter have developed deceased-user policies, which provide the family or executor of the deceased user with information about what's required to access the account. If you have large and/or many assets or have changed circunstances Attorney multiple times (marriages, etc). Particularly large assets (like estates are taxed when transferred from one person to another). If you need assistance in will writing, you may want to enlist the services of a suitable attorney. This individual would possess strong legal and written skills, and a deep knowledge of state law. Your state bar association may be able to help you locate a suitable attorney. - Trust: you must create a trust for the under age beneficiary Allocation of Inventory Since you have defined the valuables, it is time to figure out who the players are. Naming an Executor An individual appointed to carry out the will. This person should be dependable, honest, organized, and have strong finance skills: he/she will be paying your taxes, distributing property, and handling debts. Naming a Beneficiary An individual who you designate to receive the asset or belonging. You can have as many beneficiaries as you want. Naming a Guardian If beneficiary is under 18: You need to appoint a trustee/guardian of the trust you create for under age beneficiary Dividing Assets Deciding whom your beneficiaries are can be easy or hard, depending on уour relationships. АЛer yoи'тe decided ulo the players are, you need to decide what percentage of the assets each person will receive. Атеndment If anything changes in your life from relationships to financial status, be sure to amend the will. Those who want to can simply add a codicil, a document that amends their will, to include a digital plan, pets or to change a status. Pets - In a will you can include contingencies for your pets. Going Intestate Without a will, your assets become the responsibility of a probate court. Probate court: in each state, the court has a unique formula established to distribute assets accordingly. Although it varies from state to state, probate year and eat up three to five percent of your estate in lawyers' and court fees. And your beneficiaries will probably get little or nothing until probate is complete. can take six months or Common Mistakes Allowing beneficiary to bear witness to your will. May result in a bias or influence Sign!!! Properly sign and have at least two witnesses Nicknames - Do not use any ambiguous beneficiary names. Make sure names match on birth certificates Not informing the executor Not hiring a lawyer with large estate Not enough executors Appoint at least two executors You should inform your executor Not having documents all included 63% of respondents don't know what happens to their digital assets when they die. 7 Collaborative Robert L. Shepard Pat lite in erder Put worry awy. Twitter @Passarelne Bit.Ly: Facebook Tumbir

How-to Write a Will

shared by Passare on Dec 15
You might not be as rich as Warren Buffet or Bill Gates, but chances are you have accrued a few assets and personal items of value to you and ensuring they get into the right hands is key. The ultimat...






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