By Hampton & Pigott LLP
Posted on 6-10-2020
There are a number of different things that you need to consider when you’re planning out your will. No one ever wants to think about the unexpected happening. However, it is always better to be safe than sorry. Whether you have kids or don’t have kids, you want to make sure that you have everything in order, without allowing your assets to have to go through the process of probate. So, what do you need when it comes to planning your will?
We will start with the basics first. You will need all the information that you would normally think of. Date of births, social security numbers, addresses, and so forth. As well as your spouse’s if you are married. You’ll need this information just in the first two pages of the form. That should be fairly easy though because it's all information committed to memory. You will need more information than just the basics though.
Here is where it is going to take some effort on your part. You need to round up all of the information that has to do with any legally binding agreements when it comes to things like separation agreements, divorce judgements, prenups, partnerships, shareholders, or community property agreements that would restrict the disposition of your assets. In addition to that you will need to right down all the real estate that you own. You will need to know what you want done with your assets that are in your jurisdiction.
Other information that you will need to think about is all other tangible property not currently stated. You will be able to delegate who you would like it to go to. It can be a sole person, or it could be divided. If it is going to be divided several ways, then you want to make sure that you have in mind who you want it to go to and what percent you want each one of them to get.
Then you must consider that in the time that you are making this will, if your beneficiaries happen to also be deceased, who you would you like the asset to go to instead. If the person or persons, you are giving it to is underage then you will also want to think about who you want to execute the will and when they will be able to receive what you have outlined.
Having to gather this information may seem daunting, but it is well worth the effort. You want to be sure that everything goes exactly as you want it to in case of the unforeseen circumstances of your death. Don’t just leave it up to probate. Give us a call today to set up a consultation with us to get the process started. Hampton & Pigott is happy to help you when it comes to anything legal that you need dealt with.