It is well known that when you do nothing to take care of your legal affairs, your trustees and loved one face a number of problems after it. It is better to write a simple will in order to decide who gets your property and a judge will only decide who will raise your children ( of course not always it coincides with one’s wills).
Writing a will is not a daunting issue, you will just need a good do-it-yourself book or software to make a legally binding will. However, there are a lot of particularities which you may not know and it is highly recommended to consult with an experienced attorney in order to be sure that your will corresponds to all legal requirements.
When you are under 50 and you consider the assets are not valuable enough to become a subject of estate taxes, you can write only a simple will. Nonetheless, growing older and owning more valuable property makes it difficult to plan and write a will.
Take into consideration, if one of the following circumstances apply to your situation, then you probably need professional legal aid to draft your will and make it legally binding:
• It is expected that you owe estate tax when you or your spouse die,
• You expect to control everything that will happen with your property after your death, i.e., you want to leave some property in trust and you want to save the rest on the bank account for your grandchildren,
• It may happen that you have a loved one who has special needs or with a disability, in the result, you want to specially address in your will,
• You have children from different spouses and you want to share your property with them,
• You consider that there is a person who may contest your will saying you were not mentally competent to write it, so you want to prevent the future problems