Making a Will – 10 Little-Known Facts You Need to Know

Making a Will – 10 Little-Known Facts You Need to Know

Making a will is not the most exciting topic, and it forces you to face your mortality. 

Making a will is not the most exciting topic, and it forces you to face your mortality. 

But whether there’s a pandemic or not, it’s highly recommended to put a plan in place for your home, bank accounts, and belongings if the worst was to happen. 

Before you sit down to plan your estate, here are ten things you need to know that you might not have considered.

What happens if you pass away without a will?

If you have a family member you are helping to support or an unmarried partner, you may not be able to pass your assets on to them.  

Some assets are distributed regardless of what your will says

Some assets are distributed regardless of what your will says

It’s a good idea to check the beneficiary on your accounts every few years, especially during significant life changes such as getting married or divorced, having children, or buying a house. 

You can set up a will for free, but beware of the limitations

You can set up a will for free, but beware of the limitations

If you search online, there are many free or low-cost templates you can download to make a will. But be aware that these forms will not necessarily comply with all the specifics of your state laws.

There are other documents you should consider besides just a will to protect you and your family

There are other documents you should consider besides just a will to protect you and your family

There are often other legal documents you will want to have on hand and helpful instructions for your loved ones, especially if you are the one that mostly takes care of the finances. 

Name guardians for your children

It is definitely in your best interest to have this written down and not left up to the state courts to decide.

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