Making A Will & How To Make A Will

The simplest way to ensure that your funds, property and personal effects will be distributed after your death according to your wishes is to make a will.  Making a will is quite easy; it a legal document designating the transfer of your property and assets after you die. It is usual to make a will that they are written by any person over the age of 18 who is mentally capable, commonly stated as "being of sound mind and memory."  Although making a will is a simple task, about half of all Americans die without one. Without a will to indicate your wishes, the court steps in and distributes your property according to the laws of your country.

Wills are not just for the rich; the amount of property you have is irrelevant. When you make a will ensures that what assets you do have will be given to family members or other beneficiaries you designate. If you have no apparent heirs and die without a will, it's even possible the city council may claim your estate.

Having a will is especially important if you have young children because it gives you the opportunity to designate a guardian for them in the event of your death. Without a will, the court will appoint a guardian for your children.

Here are the basic elements generally included in a will:

*Your name and place of residence
*A brief description of your assets
*Names of spouse, children and other beneficiaries, such as charities or friends
*Alternate beneficiaries, in the event a beneficiary dies before you do Specific gifts, such as an auto or residence
*Establishment of trusts, if desired
*Cancellation of debts owed to you, if desired
*Name of an executor to manage the estate
*Name of a guardian for minor children
*Name of an alternative guardian, in the event your first choice is unable or unwilling to act
*Your signature
*Witnesses' signatures

Two of the most important items included in your will are naming a guardian for minor children and naming an executor.

Naming a guardian. In most  cases, a surviving parent assumes the role of sole guardian. However, it's important to name a guardian for minor children in your will in case neither you nor your spouse is able and willing to act. The guardian you choose should be over 18 and willing to assume the responsibility. Talk to the person ahead of t