Creating a Will

by Dan Hughes

A will is a very important document to have no matter if you are on your deathbed or in your early 40's.  It is important to make sure that your loved ones, friends and/or family, are protected in case of a serious accident.  A will, in legal terms, is a legal document that you use to name the family members, friends, and organizations you want to receive - either outright or in trust - the property you own at the time of your death.  No matter how many assets the deceased owns, a will is still a very important document to have in order to ensure that everything you own is distributed to everyone the way it should be. 

A good approach to beginning to create a will is to name one or more executors.  An executor is an administrator who acts as a personal representative and carries out the wishes expressed in the will.  Naming an executor is a very important part of creating a will because you want your assets in the hands of a person that you can trust.  In addition to appointing executors, a guardian for children, until they reach the age of eighteen, should also be designated.  This is probably the single most important thing a parent can do for his/her child or children. 

After a will is drawn up, it must be validated by a legal entity known as the probate court.  This entity approves the settlement of the deceased's assets, the payment of any debts, and the transfer of legal property to heirs.  A date must be set that the executor and probate court clerk's office agree upon, and the executor will appear before a judge on that day.  The judge will then look over the will and decide on its "genuineness."  Once this happens, the will is made public and open to inspection by anyone.

http://www.newyorklife.com/cda/0,3254,11275,00.html#1

http://www.pathtoinvestigating.org/investinggoals/estateplan/will/ig_will_041.htm

http://www.babycenter.com/0_why-every-parent-needs-a-will_353.bc