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7 Things You Should Include in Your Will?

According to most dictionaries, a will or testament is a legal document that contains a person's wishes for his possessions after death. Provisions in the will are made for both personal property and real estate. The person is known as the testator and the person left in charge of the will is called the executor.

It is a very wise decision to leave behind a will so family members will know what to do with your property after your death. Your surviving loved ones will know exactly what your wishes are without having to guess.

There are certain things that should be included in a will.

1.The name of an executor should be specified to make sure the stipulations of the will are carried out. It is not a bad idea to include the name of an alternate in case something happens to the primary executor.

2.List who you want gifted with your possessions. You should list alternate beneficiaries in case you outlive your beneficiaries. For instance, include a beneficiary's spouse or children.

3.Be specific on who you want to get your assets. Don't assume your assets will be divided equally among all your children, charities, or other beneficiaries. Your will should state precisely what should go to each person or organization.

4.The will should spell out how to settle debts and final expenses.

5.The will should also spell out how others should settle their debts with you rather than thinking they all should be canceled after your death.

6.Make sure you indicate special instructions for maintaining your real estate.

7.Instead of leaving money to pets, list a provider for them. Include a certain amount of money for them to cover expenses for your pets.

People don’t have to be rich to have a will in place. The document ensures that your wishes are carried out as smoothly and as quickly as possible.

Content created and supplied by: JobW (via Opera News )


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