Making a Last Will and Testament isn’t something most folks think about very often. It doesn’t become a priority until someone nears the end stages of their life.
The truth is that it’s never too early to create a will because you don’t know what the future holds – regardless if you are in the prime of your life. Read on to find some helpful guidelines for drafting your Last Will and Testament.
Beneficiaries
You’ll need to select beneficiaries to receive your assets and belongings. Common beneficiaries are spouses and children. If you wish to give some of your belongings to other family members or friends, you will need to write out the specifics of this in your will.
Note that in the absence of a will, the state of Mississippi distributes your property according to “intestacy” laws. Your closest living relatives will receive your property and belongings. If you prefer friends rather than family members to receive your things, then creating a will is necessary.
Executor
In your will, you need to name an executor (the person who makes sure your property and belongings go to whom you designate). You can enlist the services of a lawyer or bank to act as executor of your will. These entities will require a fee. If you choose a family member or friend, make sure he or she is someone who is responsible and trustworthy. You may wish this person to receive a payment for their service. It must be noted in your will as well.
Guardians
Do you have children? You may want to name a guardian for them in the event of your or the other parent’s death. You don’t have to gain permission from the person you have in mind, but it’s a good idea to ask. Your designated guardian will be better prepared if they already know of your intent.
Final Words
For a will to be valid in Mississippi, it must be signed by you in front of two witnesses and signed by the witnesses as well. You can have it notarized so it will be “self-proving” (which quickens the probate process), but this isn’t required. You may also attach personal letters to your will for guardians, children, spouse, etc.
For questions or assistance regarding your Last Will and Testament, don’t hesitate to contact us at Bosserman Law.