Wills

The four main types of wills are simple, testamentary trust, joint, and living.

Find an online template or service. Make a list of your assets. Be specific about who gets what. If you have minor children, choose a guardian. Give instructions for your pet. Choose an executor. Name a 'residuary beneficiary' List your funeral preferences.

As long as it was properly signed and witnessed by two adult independent witnesses who are present at the time you sign your will, it should be legally binding.Using the wrong wording could mean that your instructions aren't followed, or even that your will isn't valid.

The short answer is yes, online wills are legitimate as long as you ensure they comply with federal and state laws. Online will companies hire licensed attorneys and legal professionals to carefully word their estate planning documents so that each is legally binding.

Once witnessed and notarized, do it yourself will forms are enforceable under the law.The do it yourself will forms of some states include a self-proving affidavit, which is a short form completed with the witnesses and notary when you sign the will form.

A Will Kit is also less likely to be legally binding and executed correctly. It is important to note that a Will must conform to strict legal requirements otherwise the Courts may decide it is not valid.

There is no need for a will to be drawn up or witnessed by a solicitor. If you wish to make a will yourself, you can do so. However, you should only consider doing this if the will is going to be straightforward.

Bank accounts. Brokerage or investment accounts. Retirement accounts and pension plans. A life insurance policy.

Property in a living trust. One of the ways to avoid probate is to set up a living trust. Retirement plan proceeds, including money from a pension, IRA, or 401(k) Stocks and bonds held in beneficiary. Proceeds from a payable-on-death bank account.