Let them know where to find important documents, such as your will, insurance policies, and passwords for online accounts. You should talk to this person ahead of time to be sure they are willing to accept the role. This should be someone you trust and who is responsible and organized-administering an estate involves a lot of paperwork. The executor, or personal representative, is the person who will be in charge of handling your estate. The nine steps below will help you get started. To ease the burden on your family and loved ones, consider writing a will promptly. Having a will in place allows you to decide who will receive your assets, which can help reduce time, cost, and conflict in probate court. ![]() If you pass away without a will, you're considered intestate, which means state laws will determine how your assets are distributed by the probate court. You can also view the infographic below to see more about the steps involved.Ĭreating a will is a crucial step toward forming an estate plan that accounts for your wishes. In this guide, we'll cover how to make a will and highlight how to change one, along with common mistakes to avoid in the process. ![]() You'll also choose an executor, someone whose job is to carry out the wishes listed in the will. Your beneficiaries may be family members or loved ones, or an organization such as a nonprofit. The primary purpose of making a will is to choose beneficiaries to receive all of your assets. ![]() Writing a will is perhaps the most important step in the estate planning process, but roughly 67% of American adults reported not having a will in 2021.
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