Writing your will can be a large undertaking. It’s important to go slow and make sure your will is complete and includes all assets and beneficiaries. This is a lot, and it’s common to make a mistake when doing this task alone. It’s much too easy and common to miss something. In this article, we will discuss 7 common will errors to avoid.
7 Common Will Errors To Avoid
Below is a list of some common mistakes that people make when writing their will:
- Using Vague Language: When you are not specific about your final wishes, the beneficiaries can misinterpret vague language. This can often cause disputes and increase the time needed to close the will.
- Not Specifying Debts and Taxes: The executor must pay all final bills and taxes before distributing your assets. If you do not specify your debts, researching the amount owned can cost more time and money.
- Not Having the Will Properly Signed and Witnessed: A will must be signed in the proper places and before 2 witnesses. The witnesses must also properly sign the document to make it legally binding.
- Failing to Update the Will: You should update your will and estate plan every 3-5 years and after a major life event such as a marriage, divorce, birth, or death. If not, you risk leaving your assets to an ex or leaving money to someone who has passed away.
- Forgetting to Appoint a Guardian: You assign a guardian for your minor children in your will. If you do not do this, the courts will decide who should raise your children.
- Naming Wrong Beneficiaries: If you accidentally say you want to leave your sports car to your nephew, Claire, but you meant to say your niece, Claire, your nephew may decide to fight the will under the terms that you used the wrong name.
- Not Consulting With a Legal Professional: You need someone on your side to ensure the will is written to your specifications and legally binding.
Why You Need A Legal Professional
It is easy to make a mistake when writing your will. From forgetting to have two witnesses to naming the wrong beneficiary, anything can go wrong. When you work with an experienced will attorney, they will listen to you and help ensure your will is written so that your final wishes are carried out. A will attorney knows common will errors to avoid and can help ensure you have a legally binding document.
Talk With an Oak Brook Estate Planning Attorney
Writing a legally binding will is crucial. An experienced estate lawyer can guide you through the process so you don’t overlook anything. And you can be sure your estate plan complies with Illinois laws. To talk to an estate attorney today. Contact the Estate & Probate Legal Group at (630) 864-5835.
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