A will is your last say in this world and no one can overturn it as the law is on your side. To prove it, listen to this story. When Charles Vance Millar died, he had made one of the strangest wills in history. With no descendents he bequeathed seven Methodist ministers and temperance advocates with $700,000 worth of O’Keefe breweries stock. He then named three anti-horse racing activities as the recipient of $25000 worth of stock in a jockey club. He also granted a joint tenancy of his vacation home to three men who were mortal enemies to each other. And the final clause stated that the entire estate should go to the woman who in ten years gave the most number of births. And there were four winners. If you are someone with pots of money and you may have to bid good bye to the world soon, then make a will to avoid a blood bath afterwards. Everyone can make a will; it doesn’t matter if you are rich or poor. The kings of yesteryears never made a will. They only nominated the successor and then left him to ward of his various siblings and relations. That is why in civilized society the importance of will is paramount. In the article below are tips on writing a will.
Tips On Writing Your Will
The will should have a headline that should identify that it is a will. A very good example of a headline title can de: Last Will And Testament.
The declaration is to make sure that it is your own will and that only you have made it. So, you should state your full name and address and declare that you are of an age to legally make a will and that you are of sound mind. You will also declare that you are not making this will under anyone’s influence or that you are in duress. Also you must state explicitly that this is your last will and that you revoke all previously made wills (if any). Make sure that you give the complete personal details.
Name an Executor
An executor is the person bestowed by you who ensures that the tenets of the will are carried through. So name an executor who has the full knowledge of your business like your spouse or the main beneficiary. While nominating an outside person, like a friend, always ask for the permission first. It is also better to name an alternate executor so that in case of unwillingness of the first, the second can be approached. However, in case you do not name any executor, then the court will appoint one.
Name a Guardian for your Minor Children
If your children are minor then name a guardian for them. However, if there is a remaining parent then it is not required. Here also, if you fail to nominate a guardian then the court has the power to name a guardian for the children. Do not name anyone without proper discussion and state the complete information of the chosen guardian.
Details of Beneficiaries
Provide complete details of the beneficiaries of your will, so as to avoid any confusion regarding their identity. Name alternate beneficiaries in case of the deaths of the first choice. While appointing beneficiaries it is always better to consult your lawyer, to smooth out the nitty gritty in case you plan to disinherit any members of your immediate family.
Details of your Assets
Providing the details of your assets is of utmost importance to distinguish between those that have been assigned and those that have not been assigned to the beneficiaries. For assets in different countries, a separate will for that country must be made which should not include the assets from the home country. This is because every country has separate laws and taxes, which must be worked out separately.
How to Write a Will to Cover Specific Bequests
If you want to bequest a part of your asset or specific property to any person or organizations, then you must will it under the heading ‘Bequest’ where you will clearly state that the name and address of the entity you are making the bequest to.
In your will you can state the mode of your funeral. You can state if you want to be buried, or cremated or disposed of in any suitable way. But all these should take into considerations the laws of the country.
The signature gives credibility to the will. And it must be signed in the presence of witnesses as they will attest to the fact that it is indeed your will. Specify the place and date and sign on every page.
Signatures of Witnesses
There should be a minimum of two witnesses whose signatures must be taken on the will. This is very necessary in case of any disputes arising later, which can be cleared by the witnesses. Also you cannot select witnesses who are beneficiaries of your will.