by If you are getting older or if you just discovered that you have a terminal illness, it is important that you prepare your last will because too often, people fail to write out a detailed will, and when they pass away, the surviving family members often have problems about the deceased person’s assets and they also struggle to handle all the deceased person’s unfinished financial affairs. You can reduce this stress by getting assistance with preparing a Legal will from a company such as www.legalwill.com.au.
State That You Are in Good Mental Health
This is important when preparing your legal will because you want to avoid the possibility of someone contesting your will by stating that you were not in the right state of mind when writing the will. Include verification of this by providing copies of medical reports from your doctor to ensure that your wishes are fulfilled.
Mention That This Is Your Last Will
If you have written other drafts of your will in the past, state clearly that this current will is your last will and that the other drafts of your will in previous years are to be declared null and void upon the writing of this current will. This is important because there may be relatives who want to point to your other wills as valid.
Carefully Evaluate The Person Who You Choose To Be Over Your Estate
It is not a decision you should take lightly, and if you have multiple financial accounts, homes or charitable organizations, you need to be sure that the person is someone who has strong integrity and who you have known for many years. Many people appoint relatives as executors of their estates, but there are also times when people decide not to appoint a relative when writing the Legal will, as the relative has shown himself to be untrustworthy in managing family affairs. If you and your older siblings are not in good terms, they should not be chosen as executors if you think they could get take revenge on your spouse and children by not giving them access to the things you left for them. Also, make it possible for the executor to pay your unpaid debts and taxes. If you need additional advice on choosing an executor, www.legalwill.com.au can offer help.
Decide What You Will Sell and Give Away
This should be included in your will item as you write out the last will because it reduces confusion, lawsuits among family members, and it will ensure that all of your possessions go to the right people. If you want your house to be sold to your niece and her children because they struggle financially, mention this in the will. Alternatively, if you want your spouse to have both of your cars instead of your adult children, include these directions.
Conclusion
No one likes to think about death and what will happen to those left behind; but you must write your last legal will while you are alive because sudden death could happen to anyone. While it is true that people are living longer lives, you need to be prepared for worst case scenarios. When you prepare a Legal will you will have peace of mind.
