If there is one thing I have learned as an estate planning attorney over the last 15 years is you can be writing your last will and testament.
There is no magic to writing a basic will and I am going to give you 5 simple tips to get you going.
But before I give you the tips I want to tell you what you have to gain by writing your own Will.
You will gain or should I say save from $400 to $1000.
You will save this because this is an average amount that it costs for a good attorney to draft your Will.
If you are interested in saving this amount of money then read on to learn about Writing Your Last Will and Testament.
Tip 1.
Understand that a Will is a post death property transfer tool and that is it.
It does nothing during your lifetime and can be changed, completely rewritten or revoked all together.
Tip 2.
A will only transfers a persons probate eligible property.
Probate eligible property is that which is owned by only one person at their death.
No co-owners or beneficiary designations Tip 3.
Having a will does not avoid probate but it can make it more efficient and prevent contentious litigation.
Tip 4.
To ensure your will is valid, it must be written and signed by you at the end.
We also suggest that you sign the bottom of each page to prevent anyone from slipping in a page that you did not write.
Tip 5.
Your will must be witnessed.
Most states require two disinterested witnesses (individuals that are not receiving any money or property in the will) but there are some that require three.
You can either research your state to determine if it requires two or three or just use three to be on the safe side.
(Having more than enough does not hurt.
) A lawyer is not always necessary for writing your last will and testament.
Use the tips above to give it a try.