“I, [full name], living at [full address], declare this to be my last will and testament, and I revoke any and all wills and codicils made prior to this date. All references herein to ‘this will’ refer solely to this document. ” A codicil is a fancy legal term for “amendment. ” Generally speaking, you’ll want to make sure you use the proper legal terminology in a will.
“At the time of executing this will, I am married to [full name]. The names of my children are [list of full names]. I am also making provisions for [full name], my cousin, and [full name], a friend of the family. All other names not listed here are not being provided for. ” If you plan on leaving anyone out of your will, mention it here. You might say, “I specifically and intentionally am failing to provide for [insert name], my [relation], in this will. ”
“I direct my executor to pay my enforceable unsecured debts and expenses directly from my estate. ” The executor is the person you designate to carry out the instructions of your will. You can name them here if you’d like, or list them in a separate section near the end of the will. While the executor is required to pay your debts once you’re gone, that money will come of out of your estate—not their pockets. However, co-signers, joint account holders, and your spouse may be on the hook depending on the kind of debt you’re carrying and where you live. [4] X Trustworthy Source US Consumer Financial Protection Bureau U. S. government agency for protecting consumers in the financial sector Go to source
“I give all of my personal property and all proceeds of insurance to my spouse, [spouse’s full name]. If they do not survive me, I give all proceeds to my children in equal shares. To [full name], I bequeath my record collection and turntable. To [full name], I give my 1967 Mustang. ” The “in equal shares” here indicates that you simply want anything not bequeathed individually to be split up fairly among your children.
“I leave my rental property at [address] in [city] to my spouse, [full name]. To my son, [full name], I leave my vintage guitars and stamp collection. To my daughter, [full name], I leave my vehicle. The rest of my belongs shall be divided among my spouse and children as they see fit. ”
You’ll need to look the intestacy laws up where you live, but they’re generally very similar to one another.
“I would like a $10,000 donation to be made to the [charity name] foundation, and a $10,000 donation to be made to my alma mater, [school name]. These funds are to come from [account], and be made anonymously. ” If your spouse isn’t around, include specific provisions for your children’s care if they’re all under 18. You’ll need to chat with a relative or friend to see if they’ll agree to be their guardian, and then include this line item in your will.
“I appoint [full name], my [relationship], as the sole executor of my will. If they are unable or unwilling to perform this task, I appoint [different full name]. My executor shall have all powers allowable to executors under the laws of the [state where you live]. I direct no bond or security of any kind shall be required of any executor. ” The “bond or security” language is designed to save money. In some states, an executor bond will legally force the executor to distribute your assets as listed, but this will cost money. If you trust them, this is unnecessary. [10] X Research source
You can sign your will in the presence of a notary to make it self-proving. This will prove that it’s valid, since the notary will demonstrate that you weren’t under duress or anything when you signed the will. The requirements here are actually different from state to state, although many states use this “two witness” requirement. Still, look up your state law to ensure that you follow the rules here.
These services range from $5-150, depending on how much customization you’d like. Popular online will providers include Legal Zoom, Rocket Lawyer, and Trust & Will. Free Will is an online will writing service that is (as the name implies) absolutely free.
The main downside with these wills is that they’re not customizable. Depending on the options available on the statutory will form, you may not be able to make specific requests or changes. [14] X Research source
It is generally not recommended to do this if you have a lot to leave behind. If someone challenges your will in court and you didn’t write it 100% correctly, the entire document may be thrown out. [16] X Research source
You have a complex portfolio of assets that you want distributed in a very specific way. You plan on leaving anyone out of your will, you have children with multiple people, or you’re divorced. You aren’t on good terms with your extended family. You have a sizable amount of money to leave to your partner and/or children.
