5 Avoidable Mistakes In The Will You Write
If you do opt to draft your own will, make sure to avoid the following five often seen mistakes.
Gregory S. DuPont
1. NO INCLUSION OF YOUR FAMILY TREE
Include the members of your family tree who
are alive or deceased, and addresses of where
your next of kin reside.
2. LEAVING FUNDS TO BENEFICIARIES WHO ARE MINORS
Allow your executor to leave bequests made to minors to a Uniform Transfers to Minors Act account. this allows the funds to be administered by your choice of custodian until the minor reaches 21.
3. SELECTING EXECUTORS WITHOUT FLEXIBILITY
Name responsible, reliable individuals as executors. Naming at least one or two younger people to succeed your initial choice should ensure your estate is successfully brought to closure without excessive court intervention.
4. INCORRECT WILL EXECUTION
Wills require your signature at the end of the
will in front of two disinterested witnesses.
The witnesses cannot be beneficiaries of your
estate and they may need to sign an affidavit
in front of a notary.
