A will is an essential part of the estate planning process. It gives you the opportunity to decide just how property and assets are to be divided among loved ones after you're gone. In a real sense, a will gives you a way to leave final gifts to the people you care about most. With that said, here’s what should never be included in a will.

Joint Accounts

Any money held in joint accounts should not be included in a will. In most cases, when one of the holders of a jointly held account passes away, the other account holder automatically becomes the beneficiary of that account. Only put in your will the money and property you own in your name. For example, if you and your spouse have a joint savings account, don't include any of those funds in the will. That money will become your spouse's upon your death.

Conditions on Bequests

You may have specific ideas about how your loved ones should spend the money they've inherited. Realistically, there is no one authority who can make sure your money is spent in the ways you've intended. For example, if you leave money to a grandson for the sole purpose of buying a car, but your grandson uses the money for a down payment on a house, there's no way for anyone to take the money back because your wishes weren't honored. The only exception to this would be situations where a decedent leaves specific age requirements in their will, such as minor children not being allowed to claim their full inheritance until they reach the age of majority.

Funeral Plans

Every will has to go through a legal administrative process called probate. Probate verifies the authenticity of the will and other estate planning documents, and it ensures property and assets are distributed according to the decedent's wishes. This can take some time to play out. Since a funeral is one of the first things to occur after a death has taken place, it doesn't make a lot of sense to include funeral plans in a will. Your survivors may not see it until it's too late. A better course of action would be to design a separate document that outlines your funeral plans and wishes; let your loved ones and attorney know about this document and where it is located.

Start creating the will that best protects your loved ones and your legacy, and contact Dennis P. Faller, Attorney at Law. Since 1985, attorney Faller has been serving Auglaize County, OH, in all aspects of estate planning, including wills and trusts, powers of attorney, and living wills. Call (419) 738-4578 to schedule an appointment, or visit him online to learn more about his estate planning services.