Writing a Will and Planning Your Estate

It's common knowledge that everyone should have some sort of a will written up before they die. It will save remaining family members a lot of stress if they know what you wanted and have it in writing. Unfortunately, more than half of the U.S. population fails to get this done. The result is often disagreements between family, friends, and lawyers.

Usually a will is written in the presence of a lawyer and at least one witness. The sole purpose of writing a will is to make your wishes known after you are gone. By putting this information in writing, and having a witness, your requests are more likely to be carried out with no attestations.

Some people choose to write their own will with no lawyers or witnesses. They sometimes write it in free-hand, use the internet, or even record themselves using visual or verbal methods. In some states this is not considered a legal document, and can be thrown by the courts. With no witnesses to confirm the validity of these documents the court is left to disperse the estate amongst a remaining spouse or direct family. In some cases the estate is given to the state and the family may never receive anything.

There are three different types of what is referred to as "estate planning". You can write a will which simply says who gets what. This is the common choice, and can work well if you have simple wishes to be carried out. You can also write up a trust. By doing this you elect an individual to be in charge of all arrangements after you are gone. The third option is the writing of a living will. This document has nothing to do with your estate, but does say specifically what you want done if you become ill and cannot make decisions for yourself. This is one of the best ways to help family members, and friends, deal with the many life changing decisions involved.

When you have decided to write your will it's always a good idea to talk to family and friends about your decisions. They will be aware of what you want, and will not be as surprised when the time comes to follow your requests. You can also consult a lawyer to help make the best financial decisions, and have fewer complications after you are gone.