How to Draft Your Own Will: A Step-by-Step Guide
Creating a will is an important step in planning for the future, but many people put it off because they think it's too complicated or expensive. However, drafting your own will can be a straightforward process if you follow a few basic steps. This guide will walk you through the process of creating a legally binding document that reflects your wishes.
Determine What Property You Want to Include in Your Will.
The first step in drafting your own will is to determine what property you want to specifically mention. This can include real estate, personal property, bank accounts, investments, and any other assets you own. You can also decide to simply say you want to give everything you own to a list of people in equal shares.
If you want to specifically mention certain assets, then make a list of those assets, and decide who you want to inherit each item or portion of your estate. It's important to be specific and clear in your instructions to avoid confusion or disputes among your beneficiaries.
Choose Your Beneficiaries and How You Want to Distribute Your Property.
Once you have made a list of all your assets, it's time to decide who you want to inherit them. You can choose to leave your property to family members, friends, charities, or other organizations. It's important to be specific in your instructions and to consider any potential conflicts or disputes that may arise.
You should also decide how you want to distribute your property, whether it be in equal shares or based on specific percentages. Remember to update your will regularly to reflect any changes in your life circumstances or wishes.
Name an Executor to Carry Out Your Wishes.
One of the most important steps in drafting your own will is to name an executor. This is the person who will be responsible for carrying out your wishes after you pass away. It's important to choose someone who is trustworthy, responsible, and capable of handling the responsibilities of being an executor.
You should also discuss your wishes with your chosen executor to ensure they understand your intentions and are willing to carry them out. Keep in mind that you can name an alternate executor in case your first choice is unable or unwilling to serve.
Include any Specific Instructions or Requests.
When drafting your own will, it's important to include any specific instructions or requests you have for your executor or beneficiaries. This could include requests on who should be the legal guardian(s) of your minor or disabled children, details about how you want your assets to be distributed, any specific funeral or burial arrangements you want, or even instructions for the care of your pets.
Be as specific as possible to ensure your wishes are carried out exactly as you intended. It's also a good idea to review and update your will regularly to ensure it reflects any changes in your life circumstances or wishes.
Sign and Finalize Your Will According to Your State's Laws.
Once you have drafted your will, it's important to sign and finalize it according to your state's laws. This may involve having witnesses present, getting your signature notarized, or following other specific requirements.
Make sure to research and understand the legal requirements in your state to ensure your will is legally binding. It's also a good idea to keep a copy of your will in a safe and easily accessible place, and to inform your executor and loved ones of its location.
The Requirements to Create Your Will under Utah Law.
At Cutler | Riley Law, we mainly practice in Utah and Utah’s requirements for a legally valid will are the same as most other states. These requirements are:
You must be at least 18 years old
You must be "of sound mind" (the fact that you are reading and understanding this article is sufficient evidence that you meet this test)
You must write the will, whether typewritten or handwritten
You must sign the will in the presence of two witnesses; and
The two witnesses must also sign the will
It is also recommended that the will be dated and that the witnesses signatures be notarized by a notary public. However, there is no requirement that a will be notarized or that it is recorded or filed with a government agency.
Most States Recognize a Handwritten Will as Legally Valid.
Alternatively, in most states you can create a legally enforceable will without any witnesses by creating what's called a "holographic will". A holographic will is simply a will where the signature and material portions of the will are in your own handwriting.
While this might be simple to do, it comes under extra scrutiny in probate court and that is why it is almost always worth the little bit of effort to prepare a typed will and have it witnessed.
Everyone Should Have a Will.
Although it is easy to put off, everyone should have a will . A will specifies who gets your property when you die and can serve other vital purposes such as appointing a personal guardian to raise your minor children. If you die without a will, a court decides who gets your property and who is best fit to raise your children.
For that reason alone, we highly encourage you to do the bare minimum and take the steps outlined today to draft your own will. Or if you prefer, we at Cutler | Riley Law would be happy to sit down with you for a free consultation to determine if your situation requires an attorney drafted will.
Either way, you'll have some peace of mind knowing that your family is taken care of if anything ever happened to you.