So you're ready to create your Legal Will: you've done some thinking about what will happen after you pass, and you want to make sure your heirloom diamond ring goes to your granddaughter and that your first edition books go to your niece. With a Legal Will, you can do all this, and reduce your family's legal costs and the potential for disagreements about your wishes. Without a legal will, the courts decide where everything goes and who cares for your children.
Use the Legal Will document if:
- You want your property, including Digital Assets, (see below) to go to someone in particular after your death.
- You want to communicate who will get your property after your death (like a family member or charity).
- You want to have a say in who will make sure your wishes are followed.
- You want to specify who will look after your children if the other parent can't.
- Note: If your estate is going to be bigger than $5,340,000--the federal estate tax exemption amount--your legal will should probably just be used for general planning. A lawyer can help with more complicated wills and estate plans.
- Digital Assets: This broad category can include any type of online account or files (like songs or documents) stored on computers and servers. Examples of what you can add to your legal will include: email accounts, blogs, social-networking sites, online backup programs, photo and document-sharing sites, financial accounts for personal or business, domain names of web sites, virtual property, and other computer files.
You'd hate to think of your family arguing after your death about what you would have wanted. A Legal Will helps solve that problem and many more. As a legal declaration, your Legal Will allows you to specify how your property will be transferred after your death. The writer determines what person or organization (an executor) will be responsible for carrying out their wishes. It's true that a Legal Will does go through Probate Court, but with a Will in place, it helps a judge easily determine who receives your estate according to your wishes, instead of default laws determining who gets what. You can use this Legal Will if you're single or married and you can use it to provide for your children of any age.
Other names for this document: Last Will and Testament, Will
Sample Legal Will
More than just a template, our step-by-step interview process makes it easy to create a Legal Will.
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This document is sometimes called a Last Will and Testament.
Sample Legal Will
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