Tuesday, August 23, 2011

How to Write a Will and Facts You Need To Know

According to some statistics, a high percentage of Americans do not have a will written. Having a will can create peace of mind when used as a legal tool to ensure that their preferences are carried out after his death. A well-written, carefully planned will can ease the transition of their loved ones.

The length of a will vary depending on the amount of assets you own. Some are simple one-page document, while others may be several pages to list all the elements on a farm and individual preferences. Normally, a will must describe the property, people who receive part of the property, special instructions about gifts to charity and care of minor children, and posthumous trusts. Sometimes you could disinherit people who might receive part of a farm.

How to write a will is valid

The validity of a will may depend on state requirements. In general, most states have statues of the same elements that may include:

• You must be at least 18 and mentally able to write the will.
• A declaration that the will is yours.
• The will must be written, computer generated or handwritten.
• Provisions which has property and / or appoints the guardianship of minors, if any.
• The will must name an executor and notarize the signatures of at least two witnesses.

How to write a will legal representation

In general, state law does not require legal representation to draft a will. However, if you have a large estate or complex problems, hiring an estate planning attorney is recommended. There are many benefits of hiring an attorney who is familiar with property laws in your state. Legal representation can help ensure that your wishes are carried out correctly.

A lawyer can help with the creation of a trust, or assist in delicate matters as to disinherit a family member. Many state laws have specific requirements on what is allowed in a will, even legally, that can serve as a personal representative. Hiring a lawyer is probably the best in such situations, he or she is familiar with state laws.

Please note that hiring an attorney to draw up a will can be costly. Most lawyers offer a free initial consultation. However, they can charge a flat fee or hourly rate to prepare a will. Discuss these options during the initial meeting.

A flat fee usually covers the preparation of documents, the time to review the documents and signature. The rate per hour could cost more than a flat fee. Actual charges may differ depending on the lawyer. Talk to several different attorneys for a range of prices.

How to write a will without legal representation

If you have a small farm or minor children, you can write your own will, without legal representation. Online software, templates and instructions are available in do it yourself (DIY) kits. The cost of a DIY kit is relatively low, often less than $ 50. Additional fees would include pay for the signatures notarized. Another option is to pay $ 300 - $ 500 to get the project to someone of a will.










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