What is a Last Will & Testament?
A will, sometimes referred to as—a Last Will and Testament—is a legal document that declares how an estate or property will be managed after one’s death. While it may not be the most pleasant subject to consider, the preparation of a Last Will and Testament is an important step to take if you’d like to ensure that your wishes will be carried out in the event that anything should happen that causes you to die or become incapacitated.
If you have children, it may be particularly important to you to ensure that your Will sets out how your children will be provided for—both financially and socially. Generally speaking, a Last Will and Testament should include information relating to paying debt, making charitable contributions, and the allocation of assets and property to beneficiaries. It should also name an executor—a person who will be responsible for carrying out the terms of the Will. A Last Will and Testament may need to be updated at various times. These include a divorce, the birth of a new child, the death of a spouse or a significant change in assets or property.
Here are the few simple steps involved in creating a Last Will & Testament.
- Decide what property to include in your will.
- Decide who will inherit your property.
- Choose an executor to handle your estate.
- Designate a guardian for your children.
- Choose someone to manage children’s property.
- Make your will.
- Sign your will in front of two witnesses.
- Make sure that your signature in notarized.
You must complete each of these steps to ensure that your children or family will be financially and emotionally stable in case you pass away.
Contact our DC Law Office for More Information
For more information regarding what is a last will and testament, please contact Antonoplos & Associates at 202-803-5676. You can also directly schedule a consultation with one of our attorneys.