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While some family members and lawyers couldn’t believe the things others write in their wills, you can’t help but think about preparing one of your own. Sooner or later, many people come to this realization and want to ensure that their wishes will be carried out after they pass away.
Yet, a poll conducted by Gallup last year found that slightly less than half of U.S. adults have a will, and it seems that the results are not drastically changing since 1990. According to the global analytics and advice firm, people aged 65 and older are the most likely subgroup to have a will. Also, “upper-income Americans are much more likely than lower-income Americans to report having a will.”
Everyone can benefit from spelling out their last wishes. After all, life is unpredictable and chaotic, so expressing your requests and instructions can make things much easier for those left behind. Patrick Hicks, general counsel at Trust & Will, wrote that creating a will takes a load off your shoulders once you know you’ve set up your loved ones with protection when they’ll need it most.
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So if you believe that this daunting process can make you feel stressed and anxious, Hicks provides several points of what you should think of before writing your will. So first, lay out your assets (don’t forget your digital assets like email or online accounts) and consider your final wishes. It’s important to make them crystal clear if you want everything to be honored as you intended.
Then gather the needed documents like birth certificate, marriage license, mortgage information, and others that are significant to you. The next noteworthy step is to choose the people responsible for carrying out your instructions.
“Choose someone trustworthy and capable of handling the financial, legal and moral obligations required to complete the process,” Hicks advised. You need to name beneficiaries as well: “Remember that the more specific you are, the better the chance your estate will be settled as you envision.”
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The process of choosing guardians for your children, dependents, and pets may be the most crucial yet difficult part of it all. “We never want to think about not being there for those who need us most, but to protect them, it’s well worth the discomfort.”
So when you’ve finally made all of these tough decisions and written your will, finalize it “with the correct number of signatures your state mandates.” And remember, life is constantly changing, so Patrick Hicks recommended reviewing your documents every three to five years, and updating them if needed.
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This process might make you feel overwhelmed with thoughts about your life and your loved ones. Consider writing it all down—or sit down and make a video about it—and leave a genuine statement about your experiences, memories, and general things that shaped your life. While it may seem hard at first, those you care for will be touched by it.
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