3 Factors That Can Affect The Smooth Execution Of Your Will
It is essential to make sure that you follow all the guidelines when making your will. This is because there are some mistakes that you can make which will affect the execution of your will. Below are various factors that can affect the execution of your will.
Not being specific
All the beneficiaries are usually very keen when a will is being read out. It would, therefore, be wrong to include vague information. An example is if you have four houses and two children, instead of being specific on their distribution, you state that one child will have three houses and the other will take the remaining house. Such statements will lead to problems during the execution process.
Failure to include some known properties
In some cases, an individual can own properties, such as houses, but fail to include them in the will. This leads to a problem if everyone is aware that you bought the property and they want to know who will inherit it. Such situations lead to conflict between family members as they might also seek their own lawyers to find out the fate of the property. This can lead to court battles that could have been prevented if you had included all the disputed assets. In case you no longer own the property, inform your lawyer and this message will be passed on at the appropriate time.
Lack of consultation when distribution assets
It is necessary to hold consultations before preparing your will. This will help to avoid conflict when it is finally read out. Although a will facilitates the distribution of your property, there are other interested parties such as your children and spouse. Talk to your spouse about your plans and ask for their opinion and views. If your children are grown, it would be wise to talk with them and listen to their opinions. An example is if you have two children, whereby one is interested in being an artist, and the other is a businessman. It would not make any sense to hand over control of your company to the artist. This is because they lack the passion required to manage a business. As such, to avoid any problems, talk to your children to determine their desires and preferences, before writing your will.
In case you are not sure about anything, ask your lawyer for guidance. They will assess the completed will and recommend areas that need to be changed or eliminated to ensure it is valid. If you have already prepared your will, you can review and update it based on these guidelines.
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