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Family Law: Important Things to Consider When Writing a Will A last will and testament refers to a legal document that sets out the directions or order of the drafter on how his properties will be distributed after death. A last will may come as an oral statement or handwritten, whereas a living will refer to a legal document that describes the preferences of the drafter when it comes to decisions about medical treatment in the event that he is unable to say his wishes. A simple will refers to a formal written documents following the state’s legal requirements of the state in which the will is drafted, including signatures and witnesses. The elements of a simple will includes an introduction and declaration, identifying the drafter, his intention to make the will and testament, a bequest clause stating how the property must be distributed, and a residuary clause disposing any leftover assets, together with the names of the executor, guardian for the minor children of the testator, and the individual who will see the will through the probate process. When it comes to the complex will, it includes all provisions found in a simple will, and the establishment of the directions or trusts for the estate for a business to continue operating as well as collection of debts owed to the testator. When it comes to divorce or prenuptial agreement, a more detailed will is necessary to warrant significant issues or concerns about property distribution and estate taxes. When creating a will, it is important to consider important things such as your debts, assets, beneficiaries, executors, and guardians, and special circumstances. It is important to make a list of all your debts like student loans, equity loans, car loans, credit cards, mortgages, medical bills, and personal debts. Your family lawyer can assist you in ensuring that you don’t miss anything when preparing your last will and testament, so make a list of all your assets such as your bank and investment accounts, real estate, retirement accounts, and valuable personal property such as musical instrument, artwork, antiques, and firearm collections. For your beneficiaries, it includes not only your immediate family but you can also include relatives, friends, and organizations or institutions that you like to support. You can designate an executor of your last wills such as a family member who has knowledge about fiscal matters, a trusted business person or banker. If you have minor children, indicate the name of their guardian. For the special circumstances, they may include naming the new CEO of your company to replace your position, who will take care of your child with special needs, exclusion of a child or grandchild from a will, and any arrangement for the care of your pets or livestock.5 Key Takeaways on the Road to Dominating Services

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