When the time comes for you and your spouse to write your Wills Columbus Ohio, certain items should be included in this document. Everyone needs to plan for this eventuality, not just the wealthy. Columbus Wills protect and distribute property on your passing and help to protect family and/or survivors from unnecessary tax bills. What should be included in this legal document?
- The person writing the will should name a personal representative or executor. He or she is responsible for carrying out your wishes as detailed in the will. An alternate should also be named in the event the executor or personal representative cannot fulfill the duties for any reason.
- Specific bequests should be identified. This is nothing more than a listing of who is to receive various items. When making this list, alternate beneficiaries should also be named to protect and distribute these items in the event the original beneficiary passes away first.
- Once the bequest have been detailed, all remaining items should be dealt with. This is referred to as the ‘residuary estate’ and includes any items not designated for a beneficiary.
- If assets are to be divided among family members or other organizations, the names should be listed in the wills along with the assets to be divided. Some choose to require the sale of assets and the value divided among the beneficiaries. The beneficiaries may receive equal shares or the person writing the will may specify percentages.
- The will needs to detail how debts, expenses and taxes are to be paid and the will writer may wish to cancel debts owed by others.
- Real estate maintenance must also be covered in the will in the event a person names someone to take possession of the home.
- If one has pets, he or she should provide for their care in a will also. The will states who gets the pet or pets and may provide money for the care of the animals.
An attorney, upon reviewing the will, may make other recommendations as to what to include in the document. The more detail in this legal document, the easier it becomes for beneficiaries to handle an estate. Don’t leave family members with a burden. Take the time to write a detailed will to save them problems while they are also dealing with grief.
