A will is a legal document that allows you to designate how your estate will be distributed in the event of your passing. Your estate can consist of many things, ranging from property and vehicles to sentimental items, such as jewelry and photographs. Though every will is different, the majority share a few basic characteristics. Below, an estate planning attorney from the Law Offices of Neil T. Nakamura & Associates in Honolulu, HI, discusses what you must establish in your will.

What to Establish in Your Will When You’re Estate Planning

1. Personal Information

Though it may seem obvious, you must start your will by detailing some basic information, including your name, address, and the date the will was crafted. The document must also include a statement affirming it is your most recent will, thus voiding any previous ones.

2. Executor of the Estate

Your executor is responsible for ensuring your last wishes are carried out. They oversee the division of your property and assets, as dictated by your will. The executor may also be tasked with negotiating your debts and paying off any final bills or expenses, including taxes and funeral costs.

3. Beneficiaries

You must establish beneficiaries to receive your assets and property. Common beneficiaries include children, spouses, friends, charities, and business associates. You may also choose to designate alternate ones, should your original choices pass on before you.

4. Asset Distribution

Your will should specify how your property, money, and belongings will be divided among your beneficiaries. Your directions should be clear and concise, listing the specific item and the chosen beneficiary accordingly. Assets that go unlisted may be subject to probate. Perform a thorough review of your designations with an attorney to ensure nothing is forgotten.

5. Guardianship

If you have minor children, you must establish a guardian to care for them. This individual will be responsible for your child’s well-being until they reach adulthood. If you are married, consider naming the same guardian as your spouse to avoid any confusion should you both pass at the same time.

Focusing on estate planning, probate law, guardianships, and wills and trusts, the Law Offices of Neil T. Nakamura & Associates has you covered for the personalized and professional legal advice you need to ensure your wishes are carried out properly. Call (808) 945-7645 to speak with an estate planning attorney today.