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Family Law 2017: Important Things to Consider When Writing a Will You last will and testament is a legal document that sets out the directions of the drafter on how your properties will be distributed after death. A last will comes in handwritten or oral statement, while a living will refer to a legal document that describes the preferences of the drafter when it comes to decisions about medical treatment in the event that he is unable to say his wishes. A simple will refers to a formal written documents following the state’s legal requirements of the state in which the will is drafted, including signatures and witnesses. The elements of a simple will includes an introduction and declaration, identifying the drafter, his intention to make the will and testament, a bequest clause stating how the property must be distributed, and a residuary clause disposing any leftover assets, together with the names of the executor, guardian for the minor children of the testator, and the individual who will see the will through the probate process. A complex will pertain to the complex estate including all provisions found in a simple will, and it may include establishing of the directions or trusts for the state to operate a business or collect debts owed to the testator. A complex and more detailed last will and testament is needed where a divorce or prenuptial agreement impact the will’s terms, or where the real estate is large to warrant property distribution and estate taxes. When creating a will, it is important to consider important things such as your debts, assets, beneficiaries, executors, and guardians, and special circumstances. It is important to make a list of all your debts like student loans, equity loans, car loans, credit cards, mortgages, medical bills, and personal debts. It is also important to list all of your assets such as bank and investment accounts, real estate, retirement accounts, and valuable personal property such as musical instrument, artwork, antiques, and firearm collections. When it comes to your beneficiaries, they include your immediate family, relatives, trusted friends, and organizations or institutions that you like to support. You can designate an executor of your last wills such as a family member who has knowledge about fiscal matters, a trusted business person or banker. It is also important to indicate the name of the guardian of your minor children, and also adding an alternative guardian or executor if your first choice is unable to serve on the time of your death. Special circumstances include the last will and testament for a child with special needs, exclusion of a child or grandchild from a will, any arrangement for the care of your pets or livestock, or the person who will replace the CEO position of a large company.Lessons Learned from Years with Attorneys

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