As you get older, one of the things you will probably start to think about is writing a last will and testament. While a lawyer will always be happy to help you with these documents, they can also be quite expensive.
The truth is, you don’t need a lawyer to write a will, and in most cases, you can do so on your own without any issues. Keep reading to learn all the ins and outs of writing a will without a lawyer.
Can You Make a Will Without a Lawyer?
First and foremost, you may be wondering if it is even possible to write a will without going through a lawyer.
Despite what you may think (or what lawyers may tell you), it is 100% possible to write a will without a lawyer. While some individuals may find it easier to use a lawyer, anyone with a pen and paper or an internet connection can write their own will.
Do You Need a Will?
Like many things in life, writing a will is truly optional. While we recommend that everyone take the time to write one, you don’t have to.
If you don’t write one, when you die, your assets will be divided based on state laws in proceedings known as the probate process. The probate process is outlined by the state, and you will have no say in how your possessions are divided. It can also take months to complete a single probate process.
Therefore, if you have particular family members who you want to receive specific aspects of your estate, then you need to take the time to write a will.
Related: Dealing With Loss During the Holidays
When Should You Write a Will?
It is never too early to write your last will and testament. Even if you are in good health, you never know when something unexpected could happen. For this reason, most experts recommend writing a will any time after your 65th birthday, though you are welcome to start sooner!
How to Write a Will Without a Lawyer (Step-by-Step)
1. List Your Assets
Start by listing your assets. Only include assets that are paid off or will be close to paid off when you pass away. For example, list your home, car, and any businesses you own.
Additionally, take a catalog of your possessions and make a list of anything particularly valuable, such as a china set or art painting. Place each item on a separate line to make things easier on yourself.
Don’t forget to include bank accounts or stock investment accounts. While these will dwindle as you age, they should still be listed on your assets sheet.
**Many online websites offer free will templates. Feel free to use one if you are struggling to get started!
Related: Tips for Choosing an Assisted Living Facility
2. List Your Beneficiaries
After you list your assets, it is time to list your beneficiaries. Write each beneficiary next to the item from your estate that you want them to receive. Keep in mind that you will want to leave some money behind to cover the cost of your death and funeral separately from the items you giving to beneficiaries.
Additionally, take the time to consider who will care for any pets and/or family members who can’t care for themselves in the event of your demise. You’ll want to list this information on your will as well.
3. List Your Debts
When you die, any debts you leave behind must be paid prior to any of your beneficiaries receive anything. This is the main reason why it is not suggested to leave behind anything with a lien or loan, as your beneficiary will have to pay off the debt before they can take control of the item.
Examples of common debts include:
- Unpaid taxes
- Credit cards
- Student loans
- Mortgages
- Healthcare debt (depends on the state)
Outlining all of these items can give you an idea of what you are leaving behind, as well as help you to better assign various beneficiaries to items in your will.
Related: The Essential Retirement Checklist: Your Roadmap to a Secure Future
4. Assign an Executor
By now, you should have a pretty good will. Before you can do anything else, however, you need to assign an executor.
The executor is the person in charge of carrying out your will when you die. Your executor should be someone you trust, such as a family member or friend. It can also be a lawyer or a business associate, depending on your circumstances.
Before assigning your executor, discuss with them to ensure they are willing and able to execute your will when you pass. Be aware they can say no, so you may want to have a backup person in mind.
5. Execute the Will
Executing your will is the hardest part of writing a will. The good news is, there are many ways you can execute, depending on your situation.
a. Use an Online Service
An online service can help walk you through the steps of executing your will for a small fee.
b. Use a Lawyer
We know these are instructions for writing a will without a lawyer, but you still may want to consider hiring one just for execution purposes depending on your will.
c. Use a Notary
The cheapest method is usually to use a notary service. Be aware you will need two witnesses to sign a will, and that each needs to be a non-interested party—meaning they can’t be listed in your will.
Notaries are available at most UPS and FedEx locations in the United States. You can also use a mobile notary, who makes house calls.
6. Make Copies and Put in a Safe Place
After your will is executed, you’ll want to make at least 2 copies of the original, or 3 copies total. You can always make extra copies; this is just the bare minimum.
Once you are done making copies, put them each in a different safe place. Below are some of the safest places for storing wills.
- Bank deposit box
- Home safe
- Lawyer’s office
- Scan and save a file on your computer desktop
The reason you make so many copies is so you can still have a will, even in the event that something goes wrong at one of the aforementioned locations.
Can You Update Your Will?
It is always possible to update your will if your situation changes; in fact, most professionals recommend updating your will every 5 years.
If you pen your will with plans to change it, then we recommend using an online will writing service as they will make updating it the most cost-effective.
For those with lots of assets that change frequently (such as a business) then it is best to go with a lawyer.
Of course, the cheapest method is to write your will yourself and notarize it locally, but this is only a good idea if you are toward the end of your life and don’t expect your assets to change in the near future.
Overall, it can be a bit scary to think about writing a will, especially if you are just 65 years old. Even though it is scary, it must be done; otherwise, you may leave your descendants with nothing, or worse, a messy probate process.
No matter what you plan to leave behind or when it’s important to have a will in place, so take the time to write one today!
Looking into writing a will for an older parent? Check out our Checklist For Caring for Aging Parents for more information!
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