If you are making a will for the first time (or updating one for the first time in a long time), this handy list will help guide you. No matter how small or large your estate, the answers to these questions are important.
- Who will be the ultimate beneficiary of most or all of your estate?
- What if the person(s) in item #1 dies before you do? Who will get their portion?
- What “special gifts” do you want to make, if any? (You can give instructions about your pets or specify who gets an heirloom or a cash gift).
- If you have minor children- who would you want to raise them if you are unable?
- If you have minor children – who would you want to take care of their finances?
- Who would you like to name as your executor?
- Who would you like to name as alternates for guardian, trustee, and executor?
- Do you have any instructions about your funeral, burial, or would you like to specify cremation?
- What is the total value of your estate?
- Do you have a special situation that needs attention? (For example: step family, common law marriage, same-sex marriage, domestic partnership, property in one or more states/countries, disabled child or adult who is a beneficiary of your will, spouse with dementia, small business depending on you, or any other personal concerns)?