What should I consider in making a Will?

In making a Will you should, at minimum:

• consider (and make a list) all of the property you have. This includes: land, possessions, insurance policies, bank accounts, pension plans, investments, etc; decide to whom you want to give this property when you die;
• think about whether there is any property that could, and that you might want to have, flow directly to a beneficiary (i.e.: not pass through your estate under your Will); think (and make a list) of what debts you have, as debts must be paid from your estate;
• if you have minor children, decide upon a person that you would suggest as a guardian;
• if you have special needs children, think about what arrangements you might wish to make for them;
• be aware of your potential legal obligations to any spouse, adult interdependent partner and children;
• consider any special bequests you would like to make (and think about doing so while you are still alive if you anticipate any problems with such bequests);
• choose someone to act as Executor and talk to this person about it; and
• assess family dynamics and make your decisions accordingly.

In addition, remember that you will not be around to help your loved ones interpret your Will. Therefore, be sure that you are as clear as possible in your description of your wishes. For example, you need to be clear about exactly who your beneficiaries are. You can't say, for example, that you want to leave everything to "hungry children in Africa." Similarly, you need to be clear about the special items that you leave. For example, you may have more than one ring, and more than one nephew, so be sure to mention that is it your "great-great grandfather Bob's gold wedding ring" that you want to leave to your nephew, "Joe".

---

May 2008

see also:

• Marriage
• Guardianship
• Trustees
• Adult Interdependent Relationships

Back