Important considerations for putting together a will in Tennessee

There are many considerations those who are estate planning should take into account as they put together their will.

For many people in Tennessee, a will is one of the first estate planning documents they put together. These legal documents allow people to name guardians for any dependent children they have and determine what will happen to their assets after they die. To ensure their will is successful as they move forward with the estate planning process, there are a few important considerations people need to think about.

Devising a joint or separate will

In most marriages, one spouse will die before the other. For this reason, even if the two wills look incredibly similar, it is often recommended that each individual in a marriage has his or her own will. Separate wills also give each spouse the opportunity to address issues like property that was obtained before the marriage and who will be the guardian for any children from a previous relationship.

Naming an executor

An executor can be a spouse, a trusted friend, an adult child or a close relative. Although all of these people can make a good executor, those who have a complicated estate may benefit from naming an attorney or someone with immense financial or legal expertise to act as their executor. Those putting together their will should also keep in mind that they can name joint executors. For instance, some people may want both their spouse and their attorney to act as executor.

Leaving assets to heirs

Those who wish to leave specific personal property to certain heirs should make sure this information is included in their will. In order to do this, people can also put together a letter of instruction to keep with their will for this purpose. Another option is for a trusted person to be told how personal items should be distributed. However, those who choose this option should keep in mind that they have to rely on this person to honor their intentions.

Keeping the will accessible and safe

Once a will has been created, it should be kept in a place that is both safe and accessible. For example, instead of keeping their will in a bank safe deposit box, those who have a will should consider keeping this important document in a home safe that is waterproof and fireproof.

In addition to these, there are many other considerations those who are in the midst of estate planning should think about while they put together their will. People should consult with an attorney near them in Tennessee for assistance ensuring their will has all necessary information included in it to ensure their wishes are upheld.