Making A Will Fail-Safe

A will makes it easier to plan your succession. However, you should take precautions.

Drawing up an estate plan is a gift to the people you leave behind. Your last will is the simplest, most effective tool of succession planning. But will it all go according to plan, or will your last wishes get challenged in a court of law? Will the distribution of your assets lead to a rift among family members? The objective behind leaving a will is to avoid a family dispute. To this end, it is important to leave a fail-safe will.

Outsource it: If you are 18 and of sound mind, even a piece of paper with details of the distribution of assets and details of the executor (the person who will handle the division of assets) signed in front of two witnesses along with their signatures will be a valid will. But, it is highly advisable to seek the services of a lawyer if one has large assets and it is spread across geographies.