Creating a will is essential, no matter where you are in life. However, there’s more to it than just writing up where you want your assets to go. While this is the main idea of the will, it’s also going to determine how people do things once you’re gone and may even include your wishes for your funeral and how your remains are to be handled. If you’re thinking about making a will in the near future, see below for five important things to consider.

1. List All Assets

You are leaving everything behind, right down to the clothes you’re wearing. It’s a good idea to list all your assets and then divide them up between people. This can also include a more open section, where “any remaining assets” can be dispersed, in case you end up with more assets at a later date and forget to update the will.

2. Consider the Future

Things are constantly changing and while you should regularly update your will, plan to have the existing will work in any situation. Even if you don’t manage to update it, the language should specify what will happen in case things change with beneficiaries and assets.

At first glance, you may wish to divide your assets among your children and spouse, but what about siblings? What if there are step-grandchildren? Who benefits if the people in your will die? These are all things you need to consider while handling the will and planning it all out.

3. Who Should Execute the Will?

Choose your executor when working on the will. This is the person who will manage the terms of your will and ensure that everything is carried out accordingly. Unfortunately, you can’t always depend on family members to do this impartially, so it may be best to appoint an outside person. A lawyer may be a good choice.

4. Possible Claims

It’s a good idea to be aware of anyone who may try to make a claim against your estate once you are gone. Civil partners, ex-spouses, and children who have been raised in your home may all have a reason to make a claim. Plan ahead for this potential issue and remember if you have made any past promises of inheritance, even if you later withdrew them.

5. Inheritance Taxes

When someone receives an inheritance, they may need to pay a tax and if you consider this ahead of time, you can be sure to cover this in your will. Talk to a lawyer to be sure you understand all the laws and how to ensure your beneficiaries receive as much as possible.

Looking for a lawyer to help you out with your will? Look no further than Blacks Legal. We can help you create a legally binding will for all your needs.