Provisions That Should Always be Part of Your Last Will

When creating a Last Will and Testament, there are several essential provisions that should be included to ensure your wishes are clearly stated and legally enforceable. While the specifics of a Will can vary depending on individual circumstances, here are some provisions that are commonly part of a comprehensive Last Will and Testament:

1. Appointment of an Executor: Designate an executor, also known as a personal representative, who will be responsible for carrying out the terms of your Will, working with the Commissioner of Accounts or Courts depending on your state, managing your estate during the probate process, and distributing assets to beneficiaries.
2. Guardianship Provisions: If you have minor children, appoint a guardian to care for them in the event that both parents pass This is a crucial provision to secure the well-being of your children and ensure they are cared for by someone you trust.
3. Specific Distributions: Specify how you want your specific assets, including real estate, personal belongings, and financial accounts, to be distributed among your individual beneficiaries. You can be as detailed as you wish, allocating specified assets or fixed monetary amounts to particular individuals.
4. Residuary Clause: Include a residuary clause to address any assets not specifically mentioned in the Specific Distribution Clause. This provision ensures that any remaining assets will be distributed according to your overall intentions in percentages to the beneficiaries you chose to inherit your remaining monies, other assets, and properties.
5. Alternate Provisions: It is important to include alternate provisions for beneficiaries, executors, and guardians in case your initial choices are unable or unwilling to fulfill their roles.
6. Revocation Clause: Include a revocation clause that states your current Will revokes all previous Wills and codicils, to avoid confusion and conflicting instructions.
7. No Contest Clause: Depending on the laws in your jurisdiction, you may want to include a no-contest clause to discourage beneficiaries from challenging the validity of your Will.
8. Witnesses and Signatures: Follow the legal requirements for signing and witnessing the Will to ensure its Most jurisdictions require at least two witnesses to sign the Will in the presence of the testator/testatrix (the person making the Will) and many also require that the Will be signed before a Notary.

When using Will based planning, it is important to have beneficiary designation on your accounts if you have particular beneficiaries in mind. Beneficiary Designations clearly identify the beneficiaries who will inherit that asset, specifying their names and the asset amount they are entitled to receive. Be sure to include contingent beneficiaries in case the primary beneficiaries predecease you.

While not legally binding, providing funeral and burial instructions along with your Last Will and Testament can help guide your loved ones in making these important decisions.

It is essential to consult with an experienced estate planning attorney to draft a Will that meets all legal requirements and accurately reflects your intentions. Additionally, updating your Will periodically to reflect changes in your life, such as marriage, divorce, or the birth of children, is essential to maintain the relevancy and validity of your estate plan. Wilson Law PLC can help ensure that your Will is properly executed and complies with the laws of your state, minimizing the chances of potential challenges or complications during the probate process. Contact us today at 866-603-5976 or fill out our contact form and we will call you to schedule your meeting.