More than half of all Americans who own property die without a will, according to National Caregivers Library. To avoid leaving behind headaches for your heirs, here are some key steps in creating a will:
- Decide who you want to leave your assets to. While family members are the most common choices, you can name others, including charities. Choose alternate recipients in case your primary beneficiary dies before you do.
- If you name multiple beneficiaries, decide if you want to divide your assets evenly or give specific gifts to particular recipients.
- Select an executor. This person, responsible for carrying out the terms of your will, should be honest, responsible and organized.
- If you have minor children, choose a guardian in case both you and your spouse die at the same time. Be sure to ask the would-be guardians if they’re willing to take on this responsibility.
- If your situation is uncomplicated, consider handwriting your will. A handwritten will does not have to be witnessed or notarized, according to the California Bar Association. Another option is California’s “fill-in-the-blanks” statutory will. If your needs are more complex, consider using an estate planning lawyer.
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