5 Ways to Get Your Will Done in 15 Minutes or Less
Introduction
Creating a will certainly feels daunting given the nature of the task. But if you have a modest or straightforward estate, it's relatively easy to ensure your assets go to your loved ones after you die. Here is how to get your will done in 15 minutes or less.
1. Pick Your Provider
You have a few options when it comes to putting together a legal will. If you have a complex estate or multiple loved ones you want to leave wealth or property to, you probably want to hire an estate planning lawyer.
DIY Options
If you have a simple estate, you can probably go the more affordable do-it-yourself route. You can create an online will using a service like Trust & Will, LegalZoom, or Willing. Most platforms charge less than $100 to write a basic will.
Tip: It's also possible to download a free template online and fill out the forms on your own.
Image Description: Infographic showing options for creating a will, including online services and estate planning lawyers.
2. Provide the Pertinent Information
Wills don't have to contain a ton of information, but expect to outline the following:
- Declaration: That you are of sound mind and body
- Personal Information: Including state of residence, marital status, and number of children
- Debts Review: Including medical bills, attorney fees, and funeral expenses
- Specific Bequests: Exclusions, or final requests
You’ll also need to nominate people for certain responsibilities upon your death.
Image Description: Illustration of a person filling out a will with pertinent personal and financial information.
3. Name Your Beneficiaries
The beneficiary is the person or organization who will receive your assets after you die. You can have multiple beneficiaries and divide your estate however you want.
Tip
If you don’t name a beneficiary or don't have a will at all, your spouse is automatically considered the heir to your estate, followed by your children. If you have minor children, you will need to nominate a guardian in your will in case your spouse dies before you. You can also nominate guardians for any family pets.
Image Description: Infographic showing the process of naming beneficiaries in a will.
4. Nominate an Executor
The executor is the person who enforces your will after you die. He or she should be someone you trust, like your estate planner. You're also allowed to nominate one of your beneficiaries, but you don't have to.
Tip
You can even nominate multiple executors to administer your estate as a group. Make sure your intended executor is on board ahead of time. The executor is allowed to decline the nomination, so make sure you pick some co-executors to fill in.
Image Description: Illustration showing the process of nominating an executor for a will.
5. Get the Will Notarized
For your new will to be legally binding, you need to sign the paperwork along with two witnesses. In many states, your witness can't be an executor or beneficiary.
Tip
You should also take the extra step of getting a notary's seal of approval. If you don't, a court will have to decide whether the will is valid during probate, the legal process of proving a will. Store your will in a safe deposit or fire box. Keep an extra copy on hand for reference and update the document when applicable. The process of amending your will after it's initially drafted is known as "adding a codicil."
Image Description: Infographic showing the steps to notarize a will and store it safely.