In order to make sure spouses and children are taken care of in case of a person’s death, a last will needs to be put into place. These last will forms do not have to be obtained through a law office and the retention of a lawyer, however. They can be found online and through other free resources so that a person can easily make a will that fits his needs. These last will templates can also be found through sites that will lead the person through the process so that the form can be specialized to meet that person’s needs and the needs of his family and other beneficiaries. The last will template should be updated periodically as life circumstances change, such as additional assets, or other children that might not be mentioned in the first will.
The last will template is really a form that will list out the person’s contact information, all the assets that he has and who will be benefitting from those assets after the testator’s death. The assets need to be listed out carefully, making sure that every bank account, possession that is owned, and investment or retirement account that the person has is covered for clarity in the will. In this way, the will can be executed clearly and easily after the person’s death, rather than causing guessing and confusion at that time.
The last will template also lists out who will be the guardian over the children if the parents die before the children are adults. This guardian will often have access to some of the funds that are in trust for the children so that they can purchase whatever the children need while growing up. After the children reach adulthood, then they will usually receive the percentage of the assets that are listed in the will.
Also in the last will template are places for the person to list certain gifts that he might give to friends, such as a set or golf clubs or other gift of sentimental value. The person might also list out debts that will be cancelled at the time of his death so that the people do not have to worry about repaying the beneficiaries. Finally, the last will template will have to be witnessed by at least two people who are not beneficiaries of the will. These people are often notaries or officials in a bank who will sign and date the will.