Create a Will
When it’s time to create a will, many people are put off by the task. After all, thinking about your own mortality can be a depressing prospect, which causes a person to delay will creation indefinitely.
If you die without a will, you’ll have no say in how your assets are distributed. This can lead to serious strife within your family, especially if one of your heirs decides to contest the will. That’s why our New Mexico attorneys at Walk-In Wills encourage you to get started on your estate plan today, so you can rest assured that your family will be protected after you’re gone.
5 Steps to Creating a Will
Wills can be simple or complex depending your financial situation. However, creation of a will usually follows the same steps:
- Listing Assets –Before creating the will, you’ll need to give a lot of thought to your assets. This includes tangible and intangible items, such as property, life insurance policies, retirement accounts, jewelry, vehicles, and many others. Make sure you list all assets you can think of, including any property you own that is located outside of New Mexico.
- Choosing Beneficiaries –Beneficiaries are those people who receive your assets after your die. They can be heirs, which are relatives, or close friends, co-workers, and charities. If there is an heir you wish to exclude from a will, make sure you discuss the issue with your attorney. Excluding a person outright can sometimes be fodder for a will contest.
- Deciding Who Gets What –After picking the heirs, you’ll need to decide how your assets should be distributed to them. Keep in mind asset distribution is often contentious, especially if one heir receives more than others. Consider discussing your will with your family after it’s created so you can explain the thought-process behind your decisions.
- Selecting the Executor –An executor is the person responsible for carrying out all will-related duties. This includes locating property and documents, paying off debts, sending out notices, and finally, making sure beneficiaries receive their allotment of the estate. When choosing an executor, make sure the person is trustworthy, financially responsible, and willing to put the work in.
- Picking a Guardian –If you have minor children, your will can also be used to select a guardian for them. If you don’t choose a guardian and something happens to you and your spouse, the court will be left to decide who cares for your children until they reach adulthood. When you select a guardian on your own, you can rest assured that your kids will receive quality care.
Will Creation Offers Peace of Mind
At Walk-In Wills, we believe in providing peace of mind to our New Mexico clients. All our will services are priced with a flat rate, so you know exactly what you’re getting. We also help with other estate planning tasks, including the creation of living wills, trusts, and financial powers-of-attorney.
Call (505) 903-7000 today to schedule your free one-hour consultation.
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