Good Morning my name is Jeshua today I will be talking to you about

[Audio] how to make your own will (pg54) Good Morning my name is Jeshua today I will be talking to you about.

[Audio] A will is a legal document that outlines how an individual's assets and property will be distributed after their death. Making your own will allows you to have control over who will inherit your property and assets, as well as appoint a guardian for any minor children. It's important to create a will because without one, the state will decide how your assets will be distributed according to the laws of intestacy. This can result in your property and assets being distributed in a way that you may not have wanted. It's also important to regularly update your will to reflect any changes in your circumstances, such as the birth of a child or the acquisition of new assets..

[Audio] After the testator dies, the will must be presented to a court and "probated" in order to become effective. Probate is the legal process through which the court determines the validity of the will and supervises the distribution of the testator's assets according to the instructions in the will. If the will is found to be valid, the executor will be responsible for carrying out the instructions in the will, which may include selling property, transferring assets to beneficiaries, and paying any debts or taxes. The executor may also be responsible for distributing any assets that are not specifically addressed in the will, such as property that is held in joint tenancy or assets that are part of the testator's estate but are not specifically mentioned in the will..

[Audio] It is important to note that a will only applies to assets that are owned solely by the testator. Assets that are held jointly with another person, such as a joint bank account or a piece of property owned as " tenants by the entirety," will typically pass to the surviving joint owner automatically, regardless of what the will says. Additionally, some types of assets, such as retirement accounts and life insurance policies, may have beneficiary designations that take precedence over the instructions in the will..

[Audio] Here are some examples of instructions that a person might include in their will: I leave my house at 123 Main Street to my son, John. I leave my collection of vintage baseball cards to my daughter, Jane. I leave my entire estate to my spouse, Sarah, to be distributed at her discretion. I appoint my friend, Bob, as the executor of my will. I leave my savings account, with a balance of $ 50,000, to my nephew, Tim. I leave my car, a 2018 Ford Mustang, to my cousin, Mary. I direct that all of my debts and taxes be paid from my estate before any assets are distributed to my beneficiaries. I leave my collection of rare books to the local library. It is important to note that a will should be specific and clearly written in order to avoid confusion or disputes among beneficiaries. A lawyer can help ensure that a will is properly drafted and meets all legal requirements..

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