Essential Tips for Writing Your Own Will

Written by Amy Nichols

Drawing up your will at some point in your life is very important in order to maintain peace of mind for you and your family. A will is a document that includes all of your last wishes and is a way to ensure thatrepparttar appropriate people receive your estate and handle your affairs.

If you fail to draw up a will and you pass away unexpectedly,repparttar 148701 state then gains control of your estate, and may divide your assets in a way that does not honor your wishes. This is particularly problematic in terms of costs and where are children involved. Dying intestate drains your estate of funds for attorney’s fees and court costs. It also subjects your minor children, if you have them, to placement with relatives that you may not have chosen.

In order to sidestep this problem, andrepparttar 148702 burden it will place on your loved ones, it is necessary for you to make a will. Below, you’ll find some ofrepparttar 148703 essential tips for writing your own will and doing it rightrepparttar 148704 first time.

One ofrepparttar 148705 essential tips for writing your own will involvesrepparttar 148706 formatting ofrepparttar 148707 document. You will want to include several paragraphs in your will, each of which will cover different aspects of your final wishes. A title is also necessary and should read, “The Last Will and Testament of,” and then you should include your full name.

Another important essential tip for writing your own will is to include a statement that you are of sound mind while writingrepparttar 148708 will. This is just a way to legally show that you are not under any undue pressure from any outside party and that your will is written in your words.

If you have a spouse, include a paragraph describing this person. If you have children, also mention them by name and assign a legal guardian to care for them inrepparttar 148709 event of your death. This will ensure that your children are raised byrepparttar 148710 people you trust to love and care for them rather than state appointed individuals.

Understanding Structured Settlements and their Advantages

Written by Josh Murray

Put in simple terms, a structured settlement is merely an agreement that’s reached between a plaintiff and defendant that outlinesrepparttar flow of payment thatrepparttar 148700 plaintiff receives, due to injury. These payments – which are made over a specified period of time – do offer some advantages torepparttar 148701 recipient and are advocated by many legal professionals, since they provide more benefits over time, when tax rates are factored in for consideration.

Whenrepparttar 148702 payment system is set up, it can be customized according torepparttar 148703 needs ofrepparttar 148704 recipient and is issued through a stable financial institution. In cases where there will be ongoing medical expenses and/or living expenses that will be covered by such a settlement, it’s important to be comfortable withrepparttar 148705 experience andrepparttar 148706 history of success thatrepparttar 148707 company offers.

Amongrepparttar 148708 many advantages of a structured settlement isrepparttar 148709 fact thatrepparttar 148710 income that’s generated from this type of agreement is not included as part ofrepparttar 148711 recipient’s annual gross income. In this way,repparttar 148712 amount of dollars that are extracted upon filing a tax return doesn’t have to be adjusted upward due torepparttar 148713 excess income that is provided through a structured settlement.

Sincerepparttar 148714 payments that are made through a structured settlement are guaranteed by some ofrepparttar 148715 largest and most highly acclaimed insurance companies in America, there is a very low risk factor that’s involved in receiving an uninterrupted cash flow once a settlement has been reached. This, too, is a benefit, sincerepparttar 148716 discontinuation of payout can be devastating to an individual or their family.

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