Although many people put off creating a last will document, it is one of the most important documents to have on file. These documents need to be kept in a safe place at all times where it can easily be reached in case it is needed. Often it is kept in a safe deposit box in the vault of the bank so that it is safe.
Usually the executor of the will keeps a copy of it in place as well and they will know where to find the copy of the signed will for execution. Many people will go to a lawyer to create a last will, but there are other places where the person can find do it yourself last wills that are easy to download and print off once they are completed at home.
Thinking through the Information Needed
When creating a do it yourself last will, people will need to think through the assets that they own so that they get everything generally listed out in the will. They need to think through any retirement accounts that they might have to list out. They also need to list out any bank accounts and cd’s that they might have. If they have investments of any kind, these also must be listed out.
In addition, the do it yourself last will should also have listed out the goods that might be of value that the person owns outright. These can be things such as cars, boats, motorcycles, houses, condominiums and more. Many times the goods will be jewelry and other related items.
By listing out the assets completely, the person can then determine who is going to be the beneficiary of each type of asset. Usually the monetary assets are split among the spouse and children. The goods are often given out as gifts in the will, depending on the desires of the person making the will. This helps to relieve any confusion when the estate is being settled.
Another area that the do it yourself last will helps to clarify is in regards to the children that the couple has. If both parents happen to die at the same time, the do it yourself last will states who the guardian of the children will be so that they do not become wards of the state. This is protection for the children so that they can immediately go and stay with the guardian rather than having to spend time with strangers.