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Family Law 2017: Important Things You Must Consider When Writing a Will The formal and legal documents that set out the directions or order of the drafter on how his properties will be distributed after death is referred to as the last will and testament. A last will comes in handwritten or oral statement, while 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. A simple will includes an introduction and declaration wherein the drafter is identified and the intention to make the last will and testament, including a bequest clause that states how the property must be distributed, and a residuary clause disposing of any leftover assets. A complex will refer to a complex estate including all the provisions which are found in a simple will, and also including establishment of the directions or trusts for the state to operate a business or collect debts owed to the testator. When a divorce or prenuptial agreement impact the will’s terms, or where the real estate is large to warrant property distribution and estate taxes, a more complex and detailed last will and testament may be required. When creating a will, it is important to consider important things such as your debts, assets, beneficiaries, executors, and guardians, and special circumstances. You have to list all your debts to others such as mortgages, credit cards, car loans, equity loans, student loans, medical bills, and personal debts. Create a list of all your assets for your family lawyer to help you prepare your will and testament including 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. For the executor of you will, it can be a family member, 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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