Everyone knows the importance of writing a will to protect their assets after they pass on. Fewer people actually do anything about it. A survey conducted by Caring.com in 2017 found that 60 of U.S. adults have no will or another form of estate planning in place. Making a will is a smart idea no matter your age or current health situation but it becomes vital when nearing the end of life. Think about the most important people and things in your life. What will they do when youre gone? Learn how to write a will that protects your assets and keeps your loved ones safe by asking yourself the following five questions. When setting up a will its crucial to consider important factors to ensure your wishes are properly documented. At New York Legacy Lawyers our team of New York estate planning lawyers can help you understand the legal requirements ensure your will is valid and enforceable and provide valuable advice on estate planning strategies that minimize taxes and protect your assets. Contact us today at (718) 713-8080 to schedule a consultation. Brooklyn wills attorney 1. Who Will Be Your Executor? The first thing you need to consider is who you want to handle your estate after you pass. This personal representative is the executor. Choose someone you trust entirely and who understands the responsibility. Handling an estate requires a lot of paperwork so the person you choose needs to be detail-oriented and organized. Put a plan in place together so they know what to do and where to find all your important documents. Plus any passwords they may need to access online accounts. 2. What Property Do You Own? Theres no making a will without talking about property. Your will should include both personal and real property so form a list of all owned properties before you start. Personal property includes checking and savings accounts family heirlooms jewelry stocks etc. Real property includes land houses/condos and any other objects that dont move. 3. Who Do You Plan to Name as Your Beneficiary? Use the list of personal and real property to figure out who you want to get what. People usually choose a close relative like a spouse or child or a friend asa beneficiary. You can include additional instructions if an unlikely event occurs like if the bequeathed person dies. Try to be as specific as possible. Also be aware that you can only give your share of any property jointly owned not the whole thing. 4. Do You Need to Name a Legal Guardian for Minors? When one parent dies usually the other parent automatically gets custody of their minor children. However special circumstances can mean this should not or cannot happen. Think long and hard about who you would want to raise your kids if the unthinkable happened and talk to them about your wishes. Name the legal guardian in your will after they agree. Always list a second choice as well in the event your first choice cannot accept the responsibility. 5. Who Do You Want to Care for Your Pets? Finally most people treat their pets as part of the family while their alive. They care just as much about what happens to them as they would any other family member. Speak with the person you would like to care for your pets so they agree to care for yourpets after youre gone. Five Questions to Consider in Writing a Will Details Who will be your executor? Choose a trustworthy and organized person who understands the responsibilities of handling an estate. Create a plan together and provide access to important documents and online accounts. What property do you own? List all personal and real properties including accounts stocks family heirlooms jewelry land houses/condos and other valuable possessions. Who do you plan to name as your beneficiary? Identify beneficiaries for personal and real properties. Consider close relatives or trusted friends. Provide specific instructions and address unlikely scenarios. Do you need to name a legal guardian for minors? Determine a guardian for minor children if both parents are unavailable. Discuss your wishes and have a backup choice. Who do you want to care for your pets? Choose someone to care for your pets after your passing. Ensure they are willing and able to provide proper care. 6. Can an Executor Change a Will? A last will and testament articulate your preferences regarding asset distribution and the executor is the individual you designate to ensure those preferences are honored. The executors duties involve managing your estate which includes supervising the probate process overseeing your remaining assets and guaranteeing they are transferred to your chosen beneficiaries. The executor does not have the authority to change your will at any time either during your life or posthumously and such actions could lead to their dismissal or legal action. While the executor of a will holds considerable power over the decedents estate their authority is not absolute. The executor is prohibited from: Initiating any tasks without first obtaining legal recognition from the court (via letters testamentary) Modifying the will or changing its beneficiaries Denying an inheritance to a beneficiary or taking any actions contrary to the will Distributing assets from the estate before the death of the testator (the person writing the will) Using funds from the deceased persons estate for personal gain Augmenting their portion of an inheritance in case the executor is also a beneficiary Blocking a beneficiary or potential heir from disputing the will Signing an unsigned will on behalf of the testator (which would render the will invalid) It is important for executors to follow the will and its requirements closely to avoid being accused of not performing their fiduciary duty. Executors who are found to have breached this duty could have their role as an executor removed and they can also be subjected by the court to legal repercussions. Talk to the Experts Before Writing a Will in New York These five key questions should make it easier to get startedwriting a will. Remember that you need to regularly update your will to reflect any changed wishes or newly accumulated assets. Feel like the time has come to beginwriting your will? Or still have questions about how to do it right? Contact theestate planningand elder law experts at Yana Feldman amp; Associates in New York today! Their knowledgeable lawyers truly care about making sure you get the chance to have the final say before its too late. via New York Legacy Lawyers by Yana Feldman and Associates https://yanafeldmanlaw.com/protect-your-assets-5-important-things-to-remember-when-writing-a-will/