When you die without a will, your estate may be awarded to family members that you may not have chosen to leave assets with. It’s crucial to set up a simple will that outlines your final wishes, so you can rest assured that your family is taken care of after you pass. This overview shares what you need to know to draft your own will without having to hire an attorney.
What to Know About Drafting a Simple Will
Choose a Document Preparing Service
When you just need a simple will, going to an attorney isn’t always the best option. A reputable document preparation service is just as diligent in keeping up with estate planning and probate laws as an attorney, so you can trust any document they provide will be legally binding. A document preparer can also provide you with a simple will in less time than it would take a busy attorney to draw up a will for you for a fraction of the cost.
Choose Your Beneficiaries
It’s a common provision that a spouse be named the primary beneficiary. You may also want to leave assets to children from a previous marriage and the children you share with your current spouse.
Additionally, be sure your beneficiaries are up to date on insurance policies, investment accounts, and checking accounts if they have their own named beneficiaries. These accounts won’t be included as a part of your estate, so you must keep them up to date outside of drafting your will.
Name an Executor
Your will should also name an executor. If you want, your beneficiary may be the executor. This person will be responsible for overseeing the probate process. This will involve ensuring funeral expenses are paid, estate taxes are settled, and claims made by creditors are paid off. Once the probate process is complete, your representative can distribute your remaining assets in accordance with the terms of your will.
If you need to prepare a simple will, the team at We The People of NY in Manhattan will prepare a legally binding document that outlines your wishes. This document preparation service ensures that all paperwork is thoroughly completed. Each document complies with the local and state laws of New York, so you can trust that they will be admissible. To learn more about their wills, visit their website or call (212) 633-2200.