Have Peace of Mind With a DIY Last Will and Testament
A DIY last will and testament gives you control over what happens to your estate after your death. It gives you the ability to define assets, name beneficiaries, assign guardians for your children, and appoint an executor to carry out the provisions of your will. A last testament is important, no matter your age or financial situation. If you have money, property, or other assets that you want to be distributed upon your death, a will lets you do that. It also enables you to appoint guardians for your child(ren) if you and the other parent can no longer care for them. To get assistance with DIY last will and testament in Philadelphia, PA contact People's Justice LLC at 855-577-7673.
For many people, the thought of creating a will is morose. But unfortunately, death is inevitable, and we will all succumb to it one day, so it’s better to be prepared. Writing a will doesn’t have to be complicated. As a matter of fact, you can access thousands of templates online. When creating your will, you should consider the following things:
- Assets. Create a list of your assets, including real estate, bank accounts, retirement plans, vehicles, insurance plans, jewelry, and anything else you want to leave to a person or organization.
- Debt. The person you list as your executor will be responsible for settling your debt. First assets go toward probate and funeral costs then toward paying off debt. When assigning assets to beneficiaries, keep debts in mind. For example, if you’re leaving a vehicle for a child, would they be able to afford the monthly payments?
- Select beneficiaries. Beneficiaries are people that will receive your property upon your death. Often, spouses, children, relatives, and close friends are listed as beneficiaries. You can also choose organizations, such as a church, as your beneficiary. If you have pets, you can include who will be responsible for them upon your death.
- Choose an executor. An executor is a person who carries out the provisions of your will. Many people choose an accountant or a lawyer as their executor. Although it doesn’t have to be a professional, make sure that whoever you want as your executor can carry out your desires without bias. However, should you decide to hire a professional, you’ll need to set aside funds for their payment.
- Select guardians for minors. If you have minor children, you will need to decide who will care for them if you or the other parent cannot. Discuss and obtain consent for this responsibility with prospective guardians before including them in the will.
Reach Out For Assistance
After you create your will, you can make it legal by signing it in front of witnesses. In Pennsylvania, your beneficiary can also be your witness, but this is not the case in all states, so be sure to find out the guidelines for your state. After the will has been signed by witnesses, let your loved ones know that it exists and where they can find it. If you need help finding a template for your DIY last will and testament in Philadelphia, PA, or have any questions about the process, reach out to us at 855-577-7673. People's Justice LLC is just a phone call away.