What to Include in Your Last Will and Testament: A Guide for Beginners

Estate planning is one of the most important steps you can take to protect your family and assets. A comprehensive last will and testament ensures that your wishes are carried out, your loved ones are provided for, and potential disputes are minimized. However, drafting a will can feel overwhelming if you're unfamiliar with the process. Take a look at the essential elements to include in your last will and testament to get started.

1. Personal Information

Your will should clearly identify you as the testator (the person making the will). Include detailed personal information, such as your full name, address, and date of birth, to ensure there’s no ambiguity.

Additionally, specify that the document is your last will and testament and revoke any prior wills or codicils (amendments to a will). This prevents confusion or conflicting instructions.

2. Executor of Your Will

Choose an executor, also known as a personal representative, to oversee the execution of your will. This individual will ensure that your wishes are honored, debts are paid, and assets are distributed according to your instructions.

When selecting an executor, choose someone responsible, trustworthy, and capable of handling financial and legal matters. You may also consider naming an alternate executor in case your primary choice is unable or unwilling to serve.

3. Guardianship for Minor Children

If you have minor children, one of the most critical aspects of your will is appointing a guardian to care for them in the event of your passing. Take the time to discuss this responsibility with potential guardians to ensure they’re willing and able to take on this role.

Without a named guardian, the court may make this decision on your behalf, which may not align with your preferences.

4. Assets and Property Distribution

Your will should clearly outline how your assets and property will be distributed among your beneficiaries. This can include tangible assets, such as homes, vehicles, and personal belongings, as well as intangible assets, such as bank accounts, stocks, and intellectual property.

Be as specific as possible when listing your assets and their recipients to avoid potential disputes. For example, rather than stating, “I leave my jewelry to my children,” specify which items go to each child.

It’s also worth considering any sentimental value that certain items may hold for specific family members.

5. Digital Assets

With the increasing importance of the digital world, it’s essential to include instructions for your digital assets, such as email accounts, social media profiles, cloud storage, and cryptocurrency wallets.

Detail how these accounts should be handled—whether they should be closed, preserved, or transferred to a beneficiary—and provide your executor with login credentials, if necessary.

6. Specific Bequests and Charitable Donations

If you have specific items or monetary gifts that you’d like to leave to individuals or organizations, include these in your will as specific bequests. For instance, you might leave a piece of heirloom jewelry to a niece or a sum of money to a favorite charity.

Be detailed and precise with these allocations to ensure your intentions are clear.

7. Debts and Expenses

Your will should include instructions for how your debts and expenses should be handled. This might involve selling certain assets or using funds from your estate to settle outstanding obligations.

Your executor will use the estate's resources to manage these debts before distributing the remaining assets to your beneficiaries.

8. Residuary Clause

A residuary clause specifies how the remainder of your estate should be distributed after all specific bequests and expenses have been handled. This ensures that any assets you forgot to include or acquired after creating your will are passed on to the appropriate parties.

For instance, you might state that the remaining portion of your estate is to be divided equally among your children or go to a specific charity.

9. Signatures and Witnesses

To make your will legally binding, it must be signed and dated by you in the presence of witnesses (requirements may vary depending on your state). Typically, at least two adult witnesses who are not beneficiaries under the will are needed to validate its authenticity.

It’s also a good idea to have your will notarized to add an extra layer of legal verification.

10. Keep It Updated

Your last will and testament should be reviewed and updated regularly, especially after significant life events such as marriage, divorce, the birth of a child, or the acquisition of significant assets. Keeping your will current helps ensure your wishes remain aligned with your circumstances.

Lehi Estate Planning Attorney Ready to Help

Creating a last will and testament is an essential step in safeguarding your family’s future and ensuring your wishes are honored. At Gibson Law Firm, we can help individuals in Utah draft a comprehensive, legally sound will that provides peace of mind for you and security for your loved ones.