5 Big Mistakes People Make when Writing a Will

Whether you are writing to manage your estate you want to ensure your family members get the fairest decisions. It is critical to know what mistakes not to make to avoid any unwanted consequences. Below are five major mistakes to avoid when drafting your will.

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Not consulting a legal professional

Many people try to either cut costs or don’t want to do a thorough job by avoiding consulting legal advice when writing their wills. There may be a misconception that it’s a straightforward process, however, it may not be. Legal professionals can safeguard your will and ensure it complies with state laws and truly reflects your wishes.

Failing to update the will

If you’re writing your will years before you expect to pass, there is a big possibility that circumstances can change. Things such as the birth of a new child or a divorce can happen, and failure to update your wishes on your will when it is executed can compromise and confuse things and potentially disinherit the distribution of assets or proposed beneficiaries in ways that no longer reflect your desires.

Overlooking digital assets

Often, people forget to include digital assets in their wills. This is something that can now be done in the 21st century, and things such as your social media account information or online banking accounts, and any digital currencies such as crypto, etc. can hold sentimental and financial value. Without clear instructions, accessing or distributing these assets can become complicated for your heirs.

Choosing the wrong executor

The executor of your will plays a critical role in handling your estate after your death. Selecting the wrong person who is not only incapable of handling this responsibility but also oblivious to their appointments can lead to mishandling of your estate, delays in distribution, and conflicts among beneficiaries.

Not specifying guardians for minor children

Appointing a guardian for your will is also another crucial step. You must do this to avoid a lot of unnecessary drama, such as court battles among relatives, etc. In this case, the court then decides to appoint one. To avoid this, include in your will anyone you think is capable of handling things, who also shares your values, and who is also capable of looking after your children when you’re not around.

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