Will Planning
Will planning is a crucial step in ensuring your assets are distributed according to your wishes after your death. This process involves taking inventory of your assets, deciding on beneficiaries, choosing an executor, and making other essential decisions.
Steps to Create a Will:
- Take inventory of your assets.
- Decide on your beneficiaries.
- Choose an executor.
- Appoint guardians for minor children.
- Determine how debts and taxes will be paid.
- Consider setting up trusts.
- Draft the will.
- Sign the will in the presence of witnesses.
- Store the will safely.
- Review and update the will regularly.