You likely know how good of an idea it is to create a will, but do you know what to put in it?
Ensuring that your will contains all the pertinent information is vital to making the most out of this estate document. According to AARP, you can include almost anything you want in your will as long as you make sure the document is legal under state law.
Real property is one thing you can put in your will. However, you should be aware that the person to whom you leave the property will have to go through the process of transferring the title, but it will be much easier for him or her if your will outlines ownership.
You can include smaller items with little to no monetary value in your will as you see fit. These items might include heirlooms or more personal items, such as photos. You can detail out every possession you own, even clothing if you want to.
One reason why many parents create a will is to set up guardianship for their minor children. You can name the person or people who you want to take care of your children in your will, but you should verify with whoever you name that they are willing to take on this responsibility. It is possible for a guardian to turn down the duties.
Your will can cover many things, but you should note that any assets you have that have a named beneficiary do not need to be in will. The beneficiary designation on the asset is enough to ensure it goes to whomever you intend.