If you have minor children, consider who would take care of them if something happened to you and your other parent. Home Legal 10 important things to consider when making a will A will is usually one of those things on the to-do list that is never actually done: one in three people dies without leaving a will. The main consequence of not writing a will is that the distribution of your estate is decided by law, regardless of any desire you may have had (to die intertestate). Writing a will doesn't have to be complicated.
Here, we've put together the 10 most important will considerations for you. An executor can be a close family member who is also a beneficiary, although they must be at least 18 years old. Here are six factors to consider when creating a will. The more you think about them beforehand, the easier the process will be.
The choice of the Executor is one of the most important factors to consider when drafting a new will. Your executor is your personal legal representative after your death. You can designate up to four people to act as executors, and they can act jointly or independently. It's also wise to consider who you would like to appoint as an alternative executor if your chief executor is unable or unwilling to act, or continue to act.
This allows for some flexibility in the will should circumstances change in the future. Some of the most common documents include a will and a will, a power of attorney, a living will and a health care power of attorney. Some people also need one or more trusts. Insurance policies may also have a place in your estate plan.
The specific documents required depend on your circumstances. Once you've considered these factors, you'll be better able to prepare your estate plan with your advisor and discuss options to affect the various provisions you intend to make through your wills.