Estate planning is unarguably one of those unexciting topics, and that's why most people avoid it. They actually don't want to imagine they will die and leave behind everything they worked so hard to get. However, it's good to take estate planning issues seriously. For instance, it's important to write a will because it helps resolve disputes and ensure a smooth administration of your estate. Unfortunately, most people don't prioritize writing a will, despite owning various assets and a vast estate. Others just write a will without the lawyer's help, not knowing they are piling up trouble for their beneficiaries. If you are in the process of writing a will, ensure you involve a will attorney to help you do it properly. See the three critical things you need to do when writing a will.
Decide What the Heirs Will Get
Writing a will makes your work easier in so many ways. First, a will outlines what each heir or beneficiary will get. However, it's good to know that a will could also indicate who will not get anything and perhaps explain why. Ideally, you outline specific assets and the names of those who should get them. But don't forget that the executor will only distribute the assets according to what's indicated in the will. So you should let a will attorney help you decide what each heir gets to ensure you don't overlook some aspects that may later stir up trouble.
Choose a Guardian for Your Minors
As a parent, you can decide who takes care of your minors when you pass on. You can nominate a guardian and indicate it in your will. Choosing a guardian is critical because you need to leave the minor children in good hands. A guardian ensures your children get quality education, health care, food, clothing, and housing, among other daily needs. So you should include the name of the nominated guardian in your will and perhaps outline your kids' special needs if any.
Get a Trustworthy Estate Manager
You need to get a trustworthy person who will manage your estate. It's not always easy to decide who will handle your estate, but you have to do it anyway. You actually need to nominate an executor—a person who will run your estate's affairs and ensure fair distribution. The executor plays critical roles, so you need to choose them carefully. Actually, the executor will liquidate your assets or close bank accounts, so ensure you get a trustworthy person and indicate it in your will.
For more information, contact a local will attorney.