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How To Prepare To Write A Will

How To Decide Who Your Beneficiaries Will Be And What Each Will Receive

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When thinking about who your beneficiary(ies) will be, your first response may be to assume that they will be the people that society or your family or another group to which you belong expects you to name as beneficiary.

In reality, you do not have to be limited by custom or what other people think you should do. What  is in your Will is private until it is delivered to a probate court. By then, you will not  be here. Please do not take this to mean that we are suggesting that you do not leave assets to a spouse or children. We are only suggesting that you think through the question of your beneficiary(ies) rather than assume.

Another factor to consider is how to distribute your property to your beneficiaries. There is no right or wrong way to distribute your property, only what works for you.  For example:

  • You may not want to leave assets or an equal amount of assets to family members with whom you are not close. 
  • You may have a lifelong friend you would like to show your affection and appreciation by leaving the person a substantial amount of assets. 
  • You can leave property in a trust so that an asset is administered by another person for your beneficiar y.

NOTE: If any of your potential beneficiaries are having marital problems, check the local law to find out if the other person will have a claim against the asset you are considering leaving to that person. If there can be a claim, consider leaving the asset for the person in a trust. To learn about trusts, click here

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