Individuals in Arizona and throughout the United States should consider writing a will at some point in their lifetime. If they die without a will, the court divides up their assets and even decides who gets custody of their children. A will allows individual to have control over the way their estate is divided up among their family members.
What individuals should consider while writing their will
During the process of estate planning, individuals should take stock of everything in their estate. This might include stocks, bonds, savings accounts, investments, properties, personal belongings and more. They can use the will to divide up everything in their possession according to their wishes. Some people prefer to make simple wills with basic instructions, while others prefer detailed wills that divide up their estate exactly to their wishes.
In addition to writing the will itself, the individual should also name an executor for their will. The executor will be responsible for carrying out the will after their death. For this reason, they should choose someone that they know to be trustworthy. Individuals can change their wills whenever they wish, but they should be careful to destroy any previous copies of the will to prevent confusion after their death.
Where to go for assistance with estate planning
If a person has an extensive estate with numerous assets, they might find it beneficial to speak with an attorney during the estate planning process. An attorney might be able to help them assess their financial assets and draft a will that divides up their estate according to their wishes. An attorney might also help them make decisions regarding child care, pet care, end-of-life care for themselves, and more, which will be enacted in the event that the person dies or becomes incapacitated.