Drafting a last will and testament is not a simple process. In fact, making the decisions involved in your will and planning your estate can be extremely overwhelming. Once you have determined all of the property and assets that are included in your estate, there are several other factors that must be considered when creating a comprehensive will and organizing your estate.
Appointing a responsible estate administrator may be one of the most important decisions involved in organizing the estate. The administrator will ensure the requests in the last will and testament are carried out according to your wishes. He or she will also be responsible for seeing the case through probate if necessary.
If you have children, you will also want to think about appointing a guardian who will take care of your children should both parents pass. This is important because, in some cases, the state will appoint a guardian if one is not named in the will. You should also consider naming pets in your will as well.
You may also be asked to sign a health care directive stating whether you would like to be kept alive on life support or if you would like the nurses to ‘pull the plug.’ Keep in mind that all of the directives made in your will may be modified at a later date if needed.
It may also be helpful to gather information regarding term life insurance policies, stocks, 401k plans and other assets your beneficiaries may be entitled to. This will help the estate administrator obtain your assets once you have passed.
This information is intended to educate and should not be taken as legal advice.