A will is a vital legal document and an official plan for the distribution of your estate following death. When drafting a will, it's imperative to adhere to all state and federal laws governing estate planning. Unfortunately, many common mistakes can occur when drawing up a will. Below are four of the most prevalent—and what you can do to avoid them.

4 Common Mistakes To Avoid When Drafting A Will

1. Assuming Your Will Determines The Fate Of All Your Assets

Perhaps the most common mishap is the misconception that your will determines the distribution of all of your assets. In reality, wills only deal with "probate assets," or, assets that pass through the probate process. Examples of assets not covered by wills in the state of Ohio include property that is held jointly with a right of survivorship, like most married couples homes; or property in a revocable trust and life insurance policies with a designated beneficiary.

2. Believing The Will You Created Online Is Valid

With the recent popularity of online will creation websites, many people are drafting wills that do not meet the requirements of their state. Ohio, in particular, abides by complex estate planning laws and regulations. When you draw up a will online, you run the risk of receiving incorrect, outdated, or misleading legal advice. In many cases, the cost of hiring an estate planning attorney to help you write a will is comparable to that of a reputable online service.

3. Appointing An Unqualified Executor

An executor is the legal representative of your estate after you're gone—someone you nominate to handle your probate assets. However, some people appoint an individual who is not qualified to handle the responsibilities of the position. In Ohio, an executor must be at least 18 years old, mentally competent, and may need to be bonded by a private insurance company, which means that that person will need to have a solid credit rating. Your executor really should be someone that is good with finances; and is trustworthy.  Also, an executor cannot have a criminal record.

4. Forgetting To Update Your Will After Significant Changes

Life has a natural ebb and flow, and it's normal for family members and friends to move in and out of our lives. If your will doesn't reflect these social changes, you could miss out on naming a significant beneficiary or leave assets to someone no longer in your trusted circle. The regular updating of a will is crucial to ensure the document reflects your most recent configuration of loved ones.

Ohio residents have been turning to the estate planning law firm of Swartz Law Office, LLC for over 19 years. Based in Batavia and serving clients throughout southwestern Ohio, Attorney Donald K. Swartz and his team look forward to helping you draw up the legal documents you need to cement your legacy. Call (513) 732-0900 to schedule a consultation, or visit them on Facebook or Twitter for more information.