Creating a will is a crucial step in ensuring your assets are distributed according to your wishes after your passing. However, many Americans delay this essential task. In fact, according to Planned Giving, an online marketing resource, over 68% of Americans don't have a valid will, leaving their estates subject to state laws and potential disputes among heirs. To help you navigate this important process, here are a few key considerations to keep in mind before drafting your will.

1. Assess Your Assets and Liabilities

Before writing your will, take a comprehensive inventory of your assets and liabilities. This includes real estate, bank accounts, investments, personal property, and any debts you may have. Understanding the full scope of your estate will help you make informed decisions about how to distribute your assets and ensure that your debts are appropriately addressed. An estate planning lawyer can assist you in this process, helping to identify all components of your estate and advising on the best strategies for asset distribution.

2. Choose the Right Executor

Choosing a trustworthy and capable executor is vital. This person will be responsible for managing your estate, paying debts and taxes, and distributing assets according to your will. Consider someone who is organized, impartial, and willing to take on the responsibility. Discuss your choice with the individual beforehand to ensure they're comfortable with the role. An estate planning attorney can provide guidance on choosing an executor and outline the responsibilities involved.

3. Understand the Legal Requirements

Each state has specific legal requirements for a will to be considered valid. These may include the number of witnesses, notarization, and specific language that must be included. Failing to meet these requirements can result in your will being contested or deemed invalid. Consulting with an estate planning attorney ensures that a will complies with all legal standards, reducing the risk of disputes and ensuring your wishes are honored.

Writing a will is a fundamental aspect of estate planning that provides clarity and peace of mind for you and your loved ones. By assessing your assets, choosing the right executor, and understanding the legal requirements, you can create a comprehensive and effective will. For personalized advice and assistance, consider consulting with an experienced estate planning lawyer at the Law Offices Of Michael T. Sawyier, who can guide you through the process and help you create a will that reflects your intentions. Reach out today to get started with a consultation!