8 Elements of a Will You Need to Know

The question is, what will happen after you die?  After someone close to you dies?  Is a plan in place? What happens to their assets? Who is responsible? Who gets what and how is it distributed? Who will be the guardians of minor children? What if there are disputes and gray areas where family members don’t get along?  While all of this is not fun to think about, it’s a crucial part of dealing with death.  Here are eight elements of a will you gotta know… 1. Legal Purpose Legally speaking, a will provides legally binding instructions for managing your assets and related responsibilities upon your death. If you don’t have a will, the state will decide, which you probably don’t want. That’s why it’s important to have a valid will, properly signed, witnessed, and completed.  If you have any questions about these details, don’t guess. Anyone who makes a will should consult an estate planning attorney to ensure everything is in tip-top shape. RELATED: Trust Vs. Will: What’s the Difference? 2. Beneficiaries Who ‘benefits’ from your will? Who gets your assets and how much? It doesn’t even have to be family, it could be friends, a charity, or some...