Even when you use online wills services, you will still need to gather some information beforehand. This will help you complete the entire process of writing a Will faster, rather than having to stop, and look up missing information.
When you draft your online Will, you will need to decide on several key individuals. These individuals are the following:-
1. Decide on your Executor
An executor is the person or persons who will carry out the instructions set in your Will. Choosing the right person as executor is vitally important as they handle the duties of settling debts and distributing your assets.
The executor should be available and reliable. Some online Wills service will automatically select your spouse as the first executor with provision for alternate executors, in the event your spouse predecease you, or is unable to act for any reason.
You can appoint an attorney firm as your executor if you choose to.
2. Choosing a Guardian
If you have minor children (usually below age 18), you should appoint someone as a guardian for your children. Usually, your spouse is the guardian but you nominate a guardian in case both of you die together or your spouse dies first.
Guardians can be close relatives or friends who love and care for your children. It is prudent to get the guardian’s consent that they will take on this responsibility.
I suggest you consider the following factors in choosing your selection:
- age of the proposed guardian
- emotional character and stability
- sufficient time to provide proper care to your children
- financial ability of the guardian to provide for your children
- similar religious beliefs to you and your spouse
- location of the proposed guardian
When you review your Will from time to time, remember to think through your selection of guardians. As time pass, your guardians may have a growing family as well, and they may not be able to take care of your too children.
Since online wills are fairly cheap, you can change the guardians when it is appropriate.