The Essential Steps of Making a Will

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We don’t like to think about dying, but one of the things that makes it easier is knowing that you have done all you can to make sure your loved ones are taken care of. The best way to do this is to create a will and have it registered. In this way, all of your intentions are known, and the law will help ensure your estate is settled correctly. Here are some of the things that you should consider when making a will.

  • Your Assets: One of the first things you need to do when preparing to write a will is to establish exactly what you own and, if possible, its value. If your estate is complicated, you will need to bring in experts to help you assess and catalog your assets at the time of writing. Knowing what you have will help you to determine how to divide the estate fairly.
  • Your Children: The welfare of your minor children is something to consider. If you and your spouse are both deceased. The courts will consider what your wishes for your children were, and most likely, they will be settled with the people you choose. If you do not do this, you risk having your children end up as wards of the state.
  • Complications: Estates are not always quickly settled, even when a valid will is in place. There are always unforeseen complications and claims against the property that will need to be considered. For this reason, you should include in your paperwork the will dispute lawyer of your choice to represent you during probate. Most likely, this will also be the lawyer with whom you registered the will. If you are looking for a will dispute lawyer in Parramatta you can find the information through an Internet search.
  • Executor: the executor of your will is the person you choose to represent you after your death and to take care of the business related to the estate. It is best to choose someone you know is responsible and close to your family if possible. Your executor should know in advance that they are the executor.
  • Who Gets What: The last consideration of your will is also the most important. You must decide who will inherit the various assets. Dividing assets is a decision that only the subject of the will can make; it should be considered carefully.

When you write a will, make sure that you register it with a lawyer and that the executor is aware of where the will is. If it has been several tears since you have written a will, you may want to update it to reflect new information.