How To Write A Will & Get Your Inheritance Done

How To Write A Will & Get Your Inheritance Done

In the event of your death, do you have a will in place? If not, it’s time to start thinking about one. Making a will is not only important for ensuring your loved ones are taken care of after you’re gone, but it can also make the inheritance process much smoother. Here’s what you need to know about writing a will and getting your inheritance done.

What Is A Will?

A will is a legal document that outlines how you wish to distribute your assets after death. Assets include all of your belongings including property, savings and investments.

Who Can Write A Will?

Any adult can write a will regardless of nationality or where they live as long as the person has reached the age of majority for their country (usually 18 years old).

It is not necessary that the person writing a will be of sound mind when they sign it. After all, people can change their minds about how they wish to distribute their assets after they become sick or incapacitated.

Everyone should have a will – it’s the only way to ensure your assets go to the people you want them to.

How Is A Will Written?

The process of writing a will can be daunting, but it doesn’t have to be. Here’s what you need to know:

1. Decide What You Want To Include In Your Will

First and foremost, write down your wishes regarding the distribution of your assets after death. Who will receive what and in what quantities? If you have children, who do you want to take care of them if they are underage when you die? Do you want your assets to be put into a trust for them, or do you want them to get their inheritance outright when they reach adulthood?

Make sure you include all your important information in your will, such as bank account numbers and passwords. If you have existing debts such as loans, credit cards and mortgages, do you wish to pay these off before your next of kin receives their inheritance? If so, include this in your will. Do you want your savings to go towards the preservation of your favourite charity? If so, make sure to include this in your will. There are plenty of resources available to help you write a will, including online templates and estate planning attorneys.

2. How You Want The Distribution Of Assets Done

After you have decided what goes where in your will, write down how you want it all done. Who do you want to witness this document once it’s written? Do they need to sign or is an electronic signature acceptable? Do you want your will to be read out loud in the event of your death? If so, make sure everyone who needs to hear it is present. Do you wish for certain people to not know which assets are distributed where until you die? Be sure to factor this into your will – or else they may contest it.

3. Consulting A Legal Expert

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Once you have your will written, you may want to consult a lawyer before it is signed by everyone involved. This can help ensure that your will follows the laws of your country for the distribution of assets after death. If any group contest the will once you die, they’re likely to lose so long as everything has been done properly.

When it comes to hiring a lawyer to help with your will, be sure to find someone well-versed in your country’s laws so they can ensure your will is done properly. There are different types of lawyers, each having at least one field of specialty. But this doesn’t mean that a lawyer with experience in applications for Board of Investment of Thailand can’t help you out with your will. You should research the best lawyer in town for your needs and go from there.

Keeping Your Will Safe

After your will is written, make sure you store it in a safe place where your loved ones can find it after you’re gone. A fireproof safe or safety deposit box is ideal for this purpose. If you want, you can also make another copy of your will and give it to a family member who isn’t mentioned in the document (if there are any). This is called a “codicil” and goes some way towards preventing anyone from contesting your will on grounds of incapacity.

You can entrust the keeping and the implementation of your will to your chosen attorney if you have one. They will be able to manage the distribution of your assets after death as well as hold on to any documentation related to your will against a fee. Remember, once you die those who inherit from you also inherit from those individuals now in charge of your estate – so make sure they’re someone who can be trusted with distributing your assets.

How Do Your Assets Get Distributed After You Die?

There are two methods of distributing assets after you die: probate and intestacy. In probate, a representative from the government oversees how your assets get distributed once you die and ensures that no one gets their hands on what doesn’t belong to them.

In intestacy, your assets are distributed automatically according to the laws of your country. For example, if you have a spouse when you pass away, they will receive all of your assets automatically in accordance with the law (unless it states otherwise in your will).

Having a will is one of the most important things you can do for your loved ones after death – it ensures that they go through as little hassle as possible when they inherit your assets. Without a will, there’s no guarantee that anything would go to the people you wanted it to.