Important Provisions to Include in Your Will
Your family is important to you, and you want to protect them now, and in the future. One of the best ways to do this is to create an estate plan. Last wills and testaments, more commonly referred to simply as “wills,” are typically the foundation of an estate plan. Drafting a will ensures that your wishes are respected, your loved ones are provided for, and that potential legal disputes are avoided. However, if you are not familiar with the process, drafting a will can seem overwhelming. Below, our Utah estate planning attorney outlines the provisions to include in your will.
Your Personal Information
Your will should clearly outline that you are the testator, or person who created the will. You also need to include other personal information such as your full legal name, date of birth, and address to ensure there are no ambiguous terms. If you have any previous versions or codicils of your will, you should also revoke these in the current document. This can prevent conflicting instructions or confusion.
The Name of Your Personal Representative
It is important to select a personal representative (sometimes called an executor) who will carry out the instructions of the will. This person will ensure that your wishes are respected, any debt you carry is paid, and that the remaining property in your estate is distributed according to the terms of the document. When choosing a personal representative, it is critical that you select someone who is trustworthy, responsible, and capable of handling legal and financial issues. Many people also name an alternative personal representative if your primary choice is unwilling or unable to serve.
The Name of a Guardian for Minor Children
If you have minor children, you can also name a guardian who will support and care for them after you pass away. Being named as guardian is a huge responsibility. It is important to speak to anyone you are considering to name as guardian to ensure they are able and willing to step into the role. If you do not name a guardian, the court will choose one for you, and this may not align with your wishes.
Asset Distribution
One of the main purposes of a will is to outline how you want your assets distributed after you pass away. Be sure to account for all property, including digital assets like cryptocurrency and cloud storage, and be as specific as possible. Whether you intend to divide your estate equally among your children, leave different amounts to different individuals, or direct particular items or sums of money to specific beneficiaries, clear and precise language helps ensure your wishes are carried out and reduces the risk of disputes.
Signatures Required by Law
Although there are many provisions you may personally want to include in your will, you must also ensure that it meets the legal requirements. In Utah, you must sign your will in the presence of two witnesses and the witnesses must also sign in the presence of each other. All signatures must be notarized. Although not prohibited, it is recommended that you choose witnesses who will not benefit from your estate to reduce the risk of claims of undue influence if the will is ever contested.
Our Estate Planning Attorney in Utah Can Draft Your Will
At AGS Law, our Utah estate planning attorney will take the time to understand your goals and draft your will so it is enforceable and reflects your wishes. Call us now at 801-477-6144 or contact us online to schedule a consultation and to get started on your plan.
Source:
le.utah.gov/xcode/Title75/Chapter2/C75-2-P5_1800010118000101.pdf
