A few months ago, I mentioned that we don’t have a will. I wish I could tell you today that we finally got down to business and wrote one. Sorry to burst your bubble, but it still hasn’t happened. I promise that after we come back from our small trip this weekend, I will get on that (no pun intended!). I want to be prepared just as much as the next guy, er, lady.
Although I learned about wills in college, it’s been a while, so I had to dig around for some important information about components of the will. Preparing to write a will might just be more time consuming than actually writing the will!
I’ve already explained why you need a will (CLICK HERE to see that post). The majority of Americans don’t have a will, but wills are not just for the rich, my friends. Wills are necessary for any person who plans on dying. I’m pretty sure that’s all of you, unless you are a zombie!
What You Need to Write Your Will
Here are the things you need to gather before you sit down and write your will. You will need to know these things whether you are writing your own will or hiring a lawyer.
List Your Assets
You don’t have to own much to write a will. Before you write the will, list all of the important stuff in your life that you would like someone to inherit. Here are some things we plan on including in our own will:
- House
- Cars
- Furniture
- Electronics
- Pictures
- Media (books, CDs, DVDs, etc.)
- Money
Other important info you can include in your will: whether you’d like to donate to charity, if you want to donate your organs, and how you want your funeral to play out. You should also indicate how your executor should deal with any taxes or debts.
Many times, insurance policies and retirement accounts already have a beneficiary, so you won’t need to list them in your will.
Name Guardians, Beneficiaries, and the Executor
Guardians are family or friends you trust to basically “adopt” your children. You should probably ask the couple or person you have in mind before you list their name in your will.
Who’s going to get that stuff? These are the beneficiaries you will list in your will.
Besides the beneficiaries, the executor of your will is probably the most important person you will name. He or she will be somebody you trust and who can handle your estate, however large or small.
Did you know you can even write a will that dictates how you want your social media accounts to be handled when you are gone? Do you want someone to take over your blog and continue writing? Do you want your facebook profile to be deleted or kept for friends and family to view? Pretty interesting how social media can make its way into your will!
My goal is to have our will done before the end of the year, and it’s really helped me to write down the process!
Do you have a will? If so, what was your experience of the preparation stage?
Sources:
“Writing a Will” from USA.gov
“10 Things You Should Know About Writing a Will” from AARP
“How to Write a Will” from WikiHow
“Making a Will: Are Lawyers Optional?” from Nolo-Law for All
Photo credits: “Certificate Document Probative Value Notary” and “Lifeguard Beach Tower Life Yellow Safety Guard” were both from Pixabay
Linked to: Pin-It Party and Thrifty Thursday
We talk about writing a will on occasion and that’s pretty much all we’ve done. 🙂 I think it’s time for us to get down to business and write the dang thing too. Super interesting fact about social media being in the will. Learned something new there. I’m glad you got your pinterest account all figured out 🙂
I know I’ll feel more at peace if we get our will done. It would be awesome if you guys joined us in resolving to get your will done!
Great post!! Yes, I agree that this is very important!! Have you considered creating a trust vs a will….to avoid probate or other tax issues?
We have a will so far, but I would like to put it into a trust one day! Let me know if you come across any great resources on that!! Great post!
-Valerie
http://www.smartmomfinance.com
Actually, I never thought of creating a trust, to be honest. I will definitely look into that! It’s always a great day when you don’t have to pay as many taxes! 😉 Glad to hear you have a will!
We don’t have a will because every time we start talking about it, we wind up “arguing” who will die first. I do plan on making one because I know it’s important to have one. I read an awesome post on a site a while (long while) ago by a woman who was unprepared and had to do everything herself after her husband died. She outlines the whole process and I think she named it Get Your SH** Done. (sorry don’t want to use foul lanaguage ><). Despite the name it was informative.
We seem to have the same conversation, and my husband always says he will be the one to die first. It definitely doesn’t help in getting the will done!
Just thinking about the mess an unprepared death could bring makes me dizzy! If you ever find that post again, let me know. Thanks for your input, Ana!
Ugh! We totally need to get our will done as well. But I have a husband who basically thinks we are all going to live forever, and doesn’t want to talk about what might happen when one of us is gone. Thanks for the motivation to get this going!
I hope it will help you get going, Brandi! Death is never a fun subject. You should tell your husband that if you get it done, you can have something or do something as a reward!
It is really nice to hear from you again. I hope you are finding a groove with two kids!
Hi! Just found you via Pinterest 🙂
I desperately want to get a will done. I’m one of those people who likes to prepare for the unknown future (retirement, wills, etc.), but my husband can’t see past the month we’re in! I’m not even on the house right now. We just bought it and unfortunately my credit would have ruined our chances at getting a nice house. (Darn those unprepared college days!) He’s in construction and there are LOTS of opportunities for him to get injured or worse 🙁
Every time I bring it up, the discussion gets waved away. I’m hoping his mom will give him a good talking to the next time she comes!
Hi Sondra! Thank you for leaving a comment. I can only imagine the difficulty of trying to prepare when your spouse isn’t on the same page as you. I hope you can talk through your concerns with him, because having a will can bring you so much peace of mind. You just never know when something terrible could happen in an instant. Wishing you luck!
Writing a will can seem morbid, but it is so important to make sure your loved ones are taken care of should anything happen to you. Thanks for sharing the advice!
I spoke to a Lawyer, the cost is horrible! Why so much? What is a reasonable cost for simple will, trust hcp, cost?