Finances & Business

Creating a Will – It Is Easier Than You Think

Written by Chris Elliot

Marianne Raul, who gives investment tips on her website says creating a will is essential to efficient and effective estate planning. Of course, other planning tools for estate planning are useful, such as family trusts and enduring power of attorney, but if you don’t plan a legally recognized will, you’re lacking the most essential and arguably the most vital asset protection measure in estate planning that’s available to you.

Some lawyers tend to employ archaic language in drafting your will, which you likely find unnecessary. There’s really no need for a will to be so formal when all you desire is for it to make clear sense in plain modern English. Gone is the era of using perplexing legal terminology that no layman understands, as there is a demand for will drafting to exhibit clear terms written in plain English.

Your will also doesn’t have to be excessively long. As a matter of fact, it’s totally acceptable to create a will that’s just a single page long that’s still just as effective and legally sound. Five elements are required to create an effective will, which are shown below.

1. Make a clear statement that you revoke any and all previous wills.
2. Assign a trustee or trustees, who can responsibly administer your will after your death.
3. Clearly state where you wish for your assets to be distributed in the event of your death.
4. Designate whom your estate beneficiaries will be.
5. Two witnesses should watch you sign your will, who should preferably be neither a will beneficiary or trustee.

Can All Wills Be Created This Easily?

The easy answer to whether all wills can easily be created is no. In many instances, wills can be complicated and may involve leaving assets to your non-marital or legally recognized domestic partner or to a a family trust. However, you you still don’t need to use archaic legal language to apply the essential principles necessary in an effective legally enforceable will.

Therefore, when you create your will if you haven’t done so already or in the event that you decide to modify an existing will, keep in mind that if the language isn’t understandable or is way too long, it’s not outside your rights to inquire whether all elements contained in your will is really necessary. Creating a will doesn’t need to be as difficult as it’s often thought to be.

About the author

Chris Elliot