Creating a will doesn’t need to be a scary or complicated process, but it can be if you’re not sure how to do it. A wills lawyer Knoxville, TN can help make the whole process smoother and help you understand what to include in your will so that it is as successful as possible. In this article, we’ll help you understand the basics of creating a will so that you can make an informed decision when it comes time to write one for yourself or for your loved ones, written by our friends at Carpenter & Lewis PLLC.
Why Everyone Should Have A Will
A will is a legal document that dictates how your assets will be distributed after you die. This includes everything from your house and car to your savings and investments. Without a will, the state will decide how your assets are divided, which may not be in line with your wishes. A wills lawyer can help you create a document that accurately reflects your wishes.
All Wills Are Not The Same
A will is a legal document that provides instructions for how you would like your property and possessions to be distributed after you die. There are different types of wills, and the type of will you need depends on your unique circumstances. For example, if you have young children, you may want to consider creating a trust in addition to a will. Trusts can provide financial security for your children in the event that something happens to you. They also allow you to plan ahead by specifying who should take care of your child and who should serve as trustee. However, trusts require more paperwork than wills because they require an agreement with someone to serve as trustee. To create a will or make changes to an existing one, contact an experienced lawyer.
Revoking Or Amending A Will
If you want to make changes to your will, you can do so by adding what’s called a codicil. This is simply an amendment to your existing will that must be signed and witnessed in the same way as your original will. You can also revoke your will entirely by destroying it or making a new will that revokes all previous wills. However, if there are provisions in your old will that don’t conflict with the newer version, they’ll still be valid after the old one has been revoked.
If you decide to destroy your will because you no longer need it, take precautions such as shredding it into tiny pieces first before burning or otherwise disposing of it for safety reasons. Some people find comfort in knowing their estate has been legally safeguarded through this process, while others see creating a last testament as a daunting process. As long as someone creates one during their lifetime and makes sure to sign and date every page of their document-which includes witness signatures; it should stand up well when put to use following death.
How To Make A Simple Will
- Gather your assets and list them out. This includes property, savings, investments, and anything else of value.
- Determine who you want to receive these assets after you pass away. This can be family, friends, or charities.
- Choose an executor for your will. This is the person who will be responsible for carrying out your wishes after you die.
- Get the will signed by yourself and witnesses.
Dealing With Property When Someone Dies Without A Will
If someone dies without a will, their property will go through intestate succession. This means that the state will determine who gets the deceased person’s property. The order of intestate succession is as follows: spouse, children, parents, siblings, grandparents, aunts and uncles, cousins. If the deceased person was married, their spouse will usually get all of their property. If the deceased person was not married, their children will usually get their property.
If you need a wills lawyer, contact one today!