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5 Myths About Writing A Will

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Writing a will is an important task that everyone should undertake to ensure their assets are distributed according to their wishes after they pass away. What many people do not realize is that drafting a will is strenuous, overwhelming, and requires professional attention to detail. That said, it may be in your best interest to hire an experienced wills lawyer in your area. A dedicated lawyer, as those at Kaplan Law Practice, LLC can explain, will help you draft your will with confidence and allow you to understand all of your options. You should also know there are many myths and misconceptions about wills that can lead to confusion and mistakes. As you continue to educate yourself on how to draft a will, here are five common myths about writing wills.

You only need a will if you have a lot of assets

Everyone should have a will, regardless of how many assets they have. A will is not just about distributing your assets; it’s also about appointing an executor, naming guardians for your children, and making other important decisions about your estate. Even if you don’t have many assets, a will can help ensure that your wishes are carried out after you pass away.

A will is all you need to plan your estate

While a will is an important part of estate planning, it’s not the only document you need. Depending on your situation, you may also need a trust, power of attorney, healthcare directive, or other legal documents. It’s important to work with an estate planning attorney to ensure that all of your documents are in order and that your estate plan reflects your wishes.

You can write your own will using a template or online form

While it’s possible to write your own will using a template or online form, this approach can lead to mistakes and oversights. Each state has its own laws regarding wills, and a generic form may not reflect the specific laws in your state or the unique aspects of your situation. Working with an estate planning attorney can help ensure that your will is legally valid and reflects your wishes.

You can’t change your will once it’s written

You can change your will at any time, as long as you are of sound mind and meet the legal requirements for making changes. In fact, it’s a good idea to review and update your will periodically, especially if your life circumstances change. For example, if you get married, divorced, have a child, or acquire new assets, you may need to update your will to reflect these changes.

Your will is private and won’t be subject to public scrutiny

Your will becomes a public document after you pass away, and anyone can request a copy. This means that your will and the details of your estate will be subject to public scrutiny. If you have concerns about privacy or want to keep certain details of your estate confidential, you may want to consider using a trust or other estate planning strategies that offer more privacy.