{"id":27699,"date":"2022-07-08T09:03:24","date_gmt":"2022-07-08T09:03:24","guid":{"rendered":"https:\/\/www.thehouseshop.com\/property-blog\/?p=27699"},"modified":"2022-07-11T18:31:12","modified_gmt":"2022-07-11T18:31:12","slug":"what-properties-to-include-in-making-a-will-a-quick-checklist","status":"publish","type":"post","link":"https:\/\/www.thehouseshop.com\/property-blog\/what-properties-to-include-in-making-a-will-a-quick-checklist\/","title":{"rendered":"What Properties to Include in Making a Will: A Quick Checklist"},"content":{"rendered":"\n<!-- SEO Ultimate Plus (https:\/\/seoultimateplus.com) - Code Inserter module -->\n<script async>(function(s,u,m,o,j,v){j=u.createElement(m);v=u.getElementsByTagName(m)[0];j.async=1;j.src=o;j.dataset.sumoSiteId='b68b392479b5981b8acf46565e9fe32a0734fc21a1f7c1e60121eaa6ca1a1c64';v.parentNode.insertBefore(j,v)})(window,document,'script','\/\/load.sumo.com\/');<\/script>\n<!-- \/SEO Ultimate Plus -->\n\n\n<p><span style=\"font-weight: 400;\">Making a will is one of the most important things you can do for your loved ones. By stating your wishes in writing, you can ensure that your estate is distributed according to your wishes after you die. Your beneficiaries will also have a clear understanding of your final wishes. When making your will, there are a few essential things to remember. First, you need to make sure that the document is legally binding. This means that it must be witnessed by two adults who are not related to you. You should also keep your will in a safe place, such as a locked drawer or fireproof safe.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In addition to these basic requirements, there are a few other things you should include in your will. Here is a quick checklist:<\/span><\/p>\n<p>\u00a0<\/p>\n<h2><span style=\"font-weight: 400;\">1. Your House and Any Other Real Estate You Own<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">When <a href=\"https:\/\/www.thehouseshop.com\/property-blog\/the-benefits-of-estate-planning-protecting-your-legacy\/\">making your will<\/a>, you must include any property you own, including your house and other real estates. If you don&#8217;t have this information in your will, the property will be distributed according to state law. This may not be what you want, so you must ensure that your will includes this information.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If you own a house, you should include the following information:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The address of the property<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The name of the person who will inherit the property<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The name of the person who will manage the property until it is sold or transferred to the beneficiary<\/span><\/li>\n<\/ul>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">If you own any other real estate, you should include the same information as your house. This consists of any <a href=\"https:\/\/www.thehouseshop.com\/property-to-rent\" title=\"rental properties\">rental properties<\/a>, vacation homes, or other properties you may own. Consider working with <\/span><a href=\"https:\/\/easlerlaw.com\/estate-planning\"><span style=\"font-weight: 400;\">estate planning lawyers<\/span><\/a><span style=\"font-weight: 400;\"> to get started. Lawyers can help you determine the best way to structure your will and ensure that all of your assets are properly included.<\/span><\/p>\n<p>\u00a0<\/p>\n<h2><span style=\"font-weight: 400;\">2. Any Savings or Investment Accounts You Have<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Almost any working adult has some savings. This may be in the form of 401(k), IRA, bank account, or even cash that&#8217;s been squirrelled away. When making your will, you must include these <\/span><a href=\"https:\/\/www.thehouseshop.com\/property-blog\/10-ways-of-saving-money-on-the-household-economy\/\"><span style=\"font-weight: 400;\">savings<\/span><\/a><span style=\"font-weight: 400;\"> accounts so that your beneficiaries know what they are and how to access them.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><img loading=\"lazy\" class=\"alignnone \" src=\"https:\/\/cdn.pixabay.com\/photo\/2015\/10\/02\/10\/09\/piggy-bank-968302_960_720.jpg\" width=\"611\" height=\"407\" \/><\/p>\n<p><span style=\"font-weight: 400;\">These accounts should be listed in your will, along with the following information:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The name of the account<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The account number<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The name of the financial institution where the account is located<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The name of the beneficiary<\/span><\/li>\n<\/ul>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Be sure to include all of the accounts you have. Even if you don&#8217;t think an account is worth much, it&#8217;s still important to include it in your will.<\/span><\/p>\n<p>\u00a0<\/p>\n<h2><span style=\"font-weight: 400;\">3. Your Personal Property<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">personal property, also known as &#8220;tangible property,&#8221; is anything that can be physically touched. This includes things like furniture, jewellery, cars, and art. When making your will, you should take inventory of your personal property and decide who will inherit each item.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">It&#8217;s essential to be as specific as possible when listing your personal property. For example, instead of just listing &#8220;my jewellery,&#8221; you should list each piece of jewellery you want to leave to a specific person. You should also include the following information for each item:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">A detailed description of the item<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The name of the person who will inherit the item<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The name of the person who will manage the item until it is given to the beneficiary<\/span><\/li>\n<\/ul>\n<p>\u00a0<\/p>\n<h2><span style=\"font-weight: 400;\">4. Your Life Insurance Policy<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">A life insurance policy is a contract between you and an insurance company. The policy pays out a death benefit to your beneficiaries when you die.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">When making your will, you need to specify who will receive the death benefit from your life insurance policy. The benefits will be paid out according to the terms of your policy, but you can specify how you want the money to be used. For example, you may want the money to pay off your mortgage or provide for your family. It all depends on your specific situation.<\/span><\/p>\n<p>\u00a0<\/p>\n<h2><span style=\"font-weight: 400;\">5. Any Retirement Accounts You Have (401(k) or IRA)<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">When you die, the money in your retirement account will be distributed according to your will. The money will be distributed according to state law if you don&#8217;t have a will. This may not be what you want, so you must ensure that your will includes this information.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Many employers offer the <a href=\"https:\/\/www.irs.gov\/retirement-plans\/401k-plans\">401(k) retirement savings plan<\/a>. The IRA is retirement savings account that you can open on your own. The money in these accounts is invested and can grow over time. When you die, your beneficiaries will receive the funds from the account.<\/span><\/p>\n<p>\u00a0<\/p>\n<h2><span style=\"font-weight: 400;\">6. Any Debts You Owe<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Debts are a fact of life; unfortunately, they don&#8217;t go away when you die. If you don&#8217;t have a will, your debts will be distributed according to state law. This may not be what you want, so you must ensure that your will includes this information.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">You should include the following information about your debts in your will:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The name of the person who will inherit the debt<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The name of the person who will be responsible for paying off the debt<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The amount of the debt<\/span><\/li>\n<\/ul>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Including your debts in your will can help ensure that your loved ones are not burdened with them after you die. You should specify who will be responsible for paying off the debt and include information on how the debt will be paid off.<\/span><\/p>\n<p>\u00a0<\/p>\n<h2><span style=\"font-weight: 400;\">7. Your Funeral Arrangements<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Your funeral arrangements are an essential part of your will. If you don&#8217;t specify your wishes, your loved ones must decide for you. This can be difficult, so it&#8217;s essential to ensure that your will includes this information.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Include as much detail as possible in your funeral arrangements. This can include things like whether you want to be cremated or buried, what type of service you want, and who you want to speak to at your service.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Making a will is an integral part of estate planning. Including the correct information in your will can help ensure that your loved ones are taken care of after you die. Remember that this is just a general overview of what to include in your will. You should consult an experienced estate planning attorney to ensure your will is valid and enforceable.<\/span><\/p>\n<h6><span style=\"color: #999999;\">Ref: THSI-2906 | ZD.25556<\/span><\/h6>\n","protected":false},"excerpt":{"rendered":"<p>Making a will is one of the most important things you can do for your loved ones. By stating your wishes in writing, you can ensure that your estate is distributed according to your wishes after you die. Your beneficiaries<span class=\"ellipsis\">&hellip;<\/span><\/p>\n<div class=\"read-more\"><a href=\"https:\/\/www.thehouseshop.com\/property-blog\/what-properties-to-include-in-making-a-will-a-quick-checklist\/\">Read more &#8250;<\/a><\/div>\n<p><!-- end of .read-more --><\/p>\n","protected":false},"author":45,"featured_media":27707,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"wl_entities_gutenberg":"","_lmt_disableupdate":"no","_lmt_disable":"","spay_email":""},"categories":[1],"tags":[],"wl_entity_type":[602],"modified_by":"Editor","_wl_alt_label":[],"jetpack_featured_media_url":"https:\/\/www.thehouseshop.com\/property-blog\/wp-content\/uploads\/2022\/07\/will-testament.jpeg","wl:entity_url":"http:\/\/data.wordlift.io\/wl0502\/post\/what-properties-to-include-in-making-a-will-a-quick-checklist-27699","_links":{"self":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts\/27699"}],"collection":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/users\/45"}],"replies":[{"embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/comments?post=27699"}],"version-history":[{"count":4,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts\/27699\/revisions"}],"predecessor-version":[{"id":27725,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts\/27699\/revisions\/27725"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/media\/27707"}],"wp:attachment":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/media?parent=27699"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/categories?post=27699"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/tags?post=27699"},{"taxonomy":"wl_entity_type","embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/wl_entity_type?post=27699"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}