Wills Lawyer

Creating a will is a crucial task that ensures your assets are distributed according to your wishes after you pass away. However, it’s all too easy to make mistakes that can lead to confusion, disputes, or even render your will invalid. Here are some common errors that you should be aware of while making your will. 

Procrastinating the Creation of a Will

A common mistake is to delay making a will. Many people put off this important task, assuming they have plenty of time or believing their estate is too small to warrant a will. However, life is unpredictable, and having a will in place ensures your assets are distributed according to your wishes. Don’t delay creating a will, regardless of your age or the size of your estate.

Neglecting to Review and Update the Will:

Another common mistake is failing to review and update your will regularly. Life circumstances change over time, such as marriage, divorce, birth of children or grandchildren, or acquiring new assets. If your will is not kept up to date, it may not accurately reflect your current intentions. A wills lawyer like one from Carpenter & Lewis, PLLC will advise you to frequently review your will and make changes after major life events.

Not Considering All Assets:

Make sure not to forget any assets when you are drafting your will. Some individuals focus solely on tangible assets like property, bank accounts, or vehicles while forgetting about digital assets, such as online accounts, cryptocurrency, or digital media. Ensure you identify and include all assets, including both physical and digital ones, to prevent any assets from being overlooked or unintentionally omitted.

Failing to Choose an Appropriate Executor:

If you want your process to go smoothly, choose a reliable executor that you trust. An executor is responsible for carrying out the instructions outlined in your will, distributing assets, paying off debts, and handling any legal processes. Select someone who is trustworthy, reliable, and capable of fulfilling the role. Discuss your intentions with potential executors beforehand, and make sure they are willing to take on the responsibility.

Not Seeking Professional Assistance:

If you do not seek legal advice early on, you are more prone to making mistakes. Estate planning can be complex, and consulting with an attorney or estate planning professional can help you navigate the process, ensure your will complies with legal requirements, and minimize the risk of errors or disputes. They can provide guidance tailored to your specific situation, helping you create a solid and legally sound will.

Creating a will is a vital step in securing your assets and ensuring your final wishes are fulfilled. By avoiding these common errors, such as procrastinating the creation of a will, neglecting to review and update it, not considering all assets, and failing to choose an appropriate executor, you can mitigate the risk of confusion, disputes, and potential invalidation of your will. Remember, seeking professional assistance can provide valuable insights and guidance throughout the process. Contact a lawyer if you want to develop a will and work on other estate planning tasks.