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What mistakes should you avoid when making your will?

On Behalf of | Aug 1, 2024 | Simple Wills | 0 comments

Wills are legally accepted documents that outline how a person’s assets and affairs should be handled after their death. 

In Virginia, you can make your own will, should you wish, but it is important to avoid common mistakes to ensure it is valid and enforceable. These include the following.

Not meeting legal requirements

To create a valid will in Virginia, you must adhere to certain legal formalities. This involves signing the will yourself and having it witnessed by at least two individuals who may or may not be beneficiaries. These witnesses must also sign the will while in your presence. If these requirements are not fulfilled, the will may be deemed invalid.

Overlooking some assets

One of the major concerns when drafting a do-it-yourself will is overlooking assets. It’s crucial to account for all of your possessions, including real estate, financial accounts, personal property and digital assets. Failing to include certain assets in your will can lead to potential disputes among heirs. To avoid this, make a comprehensive list of your assets and ensure that each one is addressed in your will. Additionally, consider how debts and liabilities will be handled, as these can also affect the distribution of your estate.

Letting the will get obsolete

A will is a dynamic document that should reflect your current wishes and circumstances. Letting it become obsolete can lead to problems if your financial situation, family dynamics or personal preferences change. It’s important to regularly review and update your will to cater for major life events such as death in the family,  marriage, divorce, the birth of children or changes in asset ownership. Failing to keep your will up-to-date can result in unintended distributions or complications in executing your wishes.

Seeking legal support can help you create a well-rounded and executable will that serves your intended purposes.