There will come a time when a person needs to leave this world, either abruptly (due to an accident or a health condition) or because of old age. You cannot tell what’s going to happen in the future. It’s all the more important to think about the future when you have significant assets, as this might start a feud within and outside the family if they’re not distributed properly.
A last will and testament should be done to protect your estate in Townsville and its rightful heirs. To do this, you might want to get assistance on creating your will:
Making a Last Will and Testament
- The first step is to introduce yourself. Mention your full name and complete address. State that you are above 18 years old, of good mental status, and nobody is forcing you to do this (your will). After that, you must indicate that what you’re writing is, in fact, your last will and testament.
- Next is choosing your executor. You can choose your spouse if you’re already married. That is the most common choice for people who make their last will and testament. Choosing a “capable friend” is also common. Before anything else, make sure you had a talk with your chosen executor. They must understand the responsibility and be willing to take the role. You must also choose an alternate executor in case the main executor can’t take on the responsibility anymore.
- The third step is naming your heirs. This will depend on you. You can choose your spouse, children, or partner. You can also choose other primary beneficiaries. Make sure you’re clear who your beneficiaries are. Let their identities be known to avoid problems.
- After that, you must specify a person to act as guardian for your dependent children. If your kids are minor and no natural parent can take care of them anymore, you must state who will be the primary person to take care of them until they reach the age of maturity. This person will be responsible for your children. The court can appoint a caretaker for your children if you’re not able to choose one.
- The next one is assessing and dividing your property. List your assets like bank accounts, retirement accounts, real estate properties, bonds, stocks, and tangible assets. After that, you can now choose which heir will get what. It’s up to you whether to give your estate to one person or many.
- After all these, you can now sign the will. Your signature will be notarised and a notary’s seal will be stamped upon it. Take note that witnesses should be around when you’re signing your will. An ideal witness would your lawyer. if they’re not around, anybody above 18 years old and is mentally competent will do. Check with your state to be sure.
It’s important to make your last will and testament while you still can. This way, you wouldn’t create unnecessary stress and strain to the people you’re leaving behind. Having a will can help iron things out, giving you peace of mind that the right heirs will get what you’re leaving for them.