When you decide to make a will, you may have questions about which information to include in it. First, you will probably want a lawyer’s help for many reasons. Second, you should be very clear about who receives which gifts. Third, you can include some additional information in your will for your executor and heirs.
- Why Do You Need a Lawyer’s Help with Your Will?
Most people are not familiar with preparing wills and do not know the legal rules surrounding them. It is unfortunately very common for someone to write out or type up a will and later have it invalidated by the courts. When this happens, assets may pass on in a way the deceased person never intended.
A competent estate planning lawyer can help you avoid these problems. One of the many issues that a lawyer can address is which property you may give away in your will. Any assets held by joint tenancy, that are payable to someone besides yourself or your estate, or held in trust are not part of your estate. Those assets will pass to the other joint tenant, the person to which they are payable, or the trust beneficiary. Your lawyer can identify these assets, as well as the assets that you can dispose of in your will.
- Clarity as to All Gifts You Make
Even when working with a lawyer, it is extremely important to be clear about all gifts that you make in your will. For example, you need to identify the full name of any heirs so that there is no confusion about who you mean. “All my money to Jan” in a will could easily become a problem if you have a mother named Janet, an aunt named Janelle, and a child named Janey.
In addition, you must clearly identify the specific gifts you are making. Rather than leaving the “green car” to Janet, have your lawyer list out the license plate number or VIN number. Explain how much money you want each person to have and the sources of the money, if it matters. For example, you could direct your executor to sell your house and distribute the sale money 50/50 to your sons.
- Additional Information in Your Will
Some people choose to include additional information in their wills, such as a guardian designation for children or funeral directions. The guardian designation indicates who the deceased person wants to take care of surviving children, although the court gets the final say about who will be appointed guardian. Funeral directions can help the executor and family understand the deceased person’s final wishes, if he or she did not specify them in an advance directive.
Finally, be sure to sign your will properly and have it witnessed in accordance with Illinois law. Your lawyer can help with this step.
Want to start planning your estate? Local attorney Andrew Szocka, Esq. provides thorough and speedy estate planning help in the Chicagoland area. To schedule a free initial consultation, visit the Law Office of Andrew Szocka, P.C. online or call the office at (815) 455-8430.