Additional Considerations Regarding Testamentary Wills
Below are a few more concerns to consider when drafting your last will and testament:
Account for Your Children
If you have young children when you draft your will, consider who will care for them. In selecting a person for such a high level of responsibility, keep the following in mind:
- Consider a friend or family member if you do not have a partner who will continue to be the primary caregiver. Choose someone who is close to your age, shares your values, and, if possible, lives nearby.
- Talk with your chosen caregiver about the responsibility before signing them into your will.
- Make sure the candidate is someone you can trust, as well as someone who will make your children feel comfortable.
- Assign the responsibility to an individual only, even if that person is married. Assigning joint responsibility can lead to complicated custody situations if the pair should separate.
Finalize Your Plans
Once your will is ready, consult an attorney to make it official. An attorney may also provide helpful advice if your estate's value is very high, if your financial situation is relatively complex, if your state's laws restrict the use of will-drafting software, or if you simply don't feel comfortable organizing such an important document on your own.
Remember that you are free to make changes to your will at any time. In fact, it's very important to renew your will in the event of any major life change; this is the key to maintaining the validity of your will. Keep your family and appointed executor informed of any significant changes to avoid any confusion or surprises during a difficult time.
