Best Practices for Drafting a Will

Drafting a will is one of the most important steps for ensuring your assets are distributed according to your wishes after your death. A well-drafted will not only provides peace of mind but also prevents potential conflicts among beneficiaries. At Linley Welwood, we know that creating a legally sound will involve careful planning and attention to detail. That is why we have put together a list of best practices for drafting a will.

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1. Understand Legal Requirements for a Valid Will

For a will to be legally valid, it must meet certain criteria. You need to be at least 16 years old and mentally capable of understanding the nature of your decisions. The will must be in writing and signed by you in the presence of two witnesses, and these witnesses must also sign the will in your presence and each other’s presence at the same time. It is important to note that the witnesses should not be beneficiaries of your will to avoid any conflict of interest, which could lead to legal challenges.

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2. Be Specific About Your Beneficiaries and Assets

Clarity is key in drafting a will, especially when identifying beneficiaries and distributing assets. Clearly state the full legal names of your beneficiaries and their relationship to you. Likewise, describe the assets you are distributing as specifically as possible. Whether it is real estate, bank accounts, or personal items, ensuring precision in your descriptions can help avoid confusion and disputes after your death.

3. Appoint a Trustworthy Executor

Your executor plays a pivotal role in carrying out your will after your death. This person is responsible for handling all aspects of your estate, including distributing assets, paying off debts, and managing legal and financial matters. Make sure to choose someone you trust, who is capable of managing the responsibilities associated with estate administration. It is also a good idea to have an open discussion with your chosen executor to ensure they are comfortable taking on this role. If your estate is large or complex, you may consider appointing a professional executor, such as a lawyer or trust company, to handle the estate.

4. Consider Guardianship for Minor Children

If you have children under the age of 19, it is critical to appoint a guardian in your will to care for them should both parents pass away. Doing so will ensure that your children are cared for by someone you trust and who shares your values. Not specifying a guardian can leave the decision up to the court, which may result in outcomes you would not have chosen. Always discuss the role with the prospective guardian beforehand to ensure they are willing and able to take on this responsibility.

5. Regularly Update Your Will

Life changes—such as marriage, divorce, the birth of a child, or acquiring significant assets—necessitate updating your will. Regularly reviewing and updating your will ensures it continues to reflect your current wishes and circumstances. You can either create a new will or make changes to the existing one through a legal document called a codicil. It is generally a good idea to review your will every few years or after major life events to ensure everything is up to date.

If you have any inquiries regarding creating a will, do not hesitate to reach out to us via our online contact form. We are ready to help with any questions you may have about drafting wills.