What Elements to Include in Your Will?
Drafting a will and other components of your estate plan is one of the most loving things you can do for your family while also potentially protecting your assets. Most estate plans start with a comprehensive will that ensures your wishes are respected, potential disputes are minimized, and your loved ones are provided for. If you are not familiar with the process, writing a will can seem overwhelming. Below, our Utah estate planning attorney outlines the important components to include in your will.
Personal Information
Your will should clearly identify you as the testator, or person drafting the will. You should include your full legal name, address, and date of birth to avoid ambiguity. You should also clearly state that this is your last will and testament and that it revokes any previous wills or codicils, or amendments to a will. This can prevent conflicting instructions and confusion.
Your Personal Representative
Your will should name your personal representative, or the individual who will ultimately execute the instructions in your will and administer your estate. Personal representatives must pay debts, ensure that property is properly distributed, and act according to your wishes. When choosing a personal representative, it is important to choose someone who is trustworthy, responsible, and capable of handling legal and financial matters.
A Guardian for Minor Children
For parents, one of the most important components of a will is naming a guardian to care for their minor children in the event that the parents become incapacitated or pass away. Before naming a potential guardian, speak to them to make sure they are willing and able to fulfill this important role.
Asset Distribution
Of course, most people are aware that their will outlines who will receive their property after they pass away. It is important to include all property such as your home, vehicle, and personal belongings. You should also include intangible assets such as bank accounts, intellectual property, and stocks. Instructions for digital assets such as email addresses and social media profiles should also be included in your will.
Legal Requirements
Under Utah law, there are also certain legal requirements your will should include. For example, you must sign your will in the presence of two witnesses over the age of 18. The witnesses must also sign the document in your presence and the presence of each other. The will should also be notarized. Having your will notarized makes it a “self-proving” will, eliminating the need to prove, or verify, it after you pass away and bypassing one of the steps of probate.
Our Estate Planning Attorney in Utah Can Draft Your Will
The above are just a few of the standard components to include in your will. At AGS Law, our Utah estate planning attorney can review the facts of your case, determine the components to include in your will, and ensure it is executed properly so your wishes are respected. Call us today at 801-477-6144 or fill out our online form to schedule a consultation with one of our experienced attorneys.
Source:
le.utah.gov/xcode/Title75/Chapter2/C75-2-P5_1800010118000101.pdf
