It is sometimes considered that creating a will is not an easy process. On the contrary, it is rather simple and straight forward to create a will.

A will, in basic words, is a document to ensure that your estate (assets without liabilities) is distributed off the way you desire.

In legal terms, a will is defined as the legal statement of the intentions of the testator, with respect to his property and assets, which he desires to be carried into effect after his death. Such disposal comes into effect only after the death of the testator.

Making a will is one of the most important parts of personal financial planning.

Normally lots of people avoid making one. A will enables each one of us to distribute our property and assets in the manner we wish to distribute it. A will may also reduce the risks of undue litigation, delays, misunderstandings and disputes amongst family members.

A will can be hand-written, or typed up depending on your choice. It requires no stamp duty or registration, although experts advise that a will must be registered so that it is in safe custody. The will must be attested by two witnesses and notarized.

Consider some basic guidelines while creating a will:

• A will can be hand written in ink but preferably should be typed up
• It does not require any stamp paper & and it need not be registered but is recommended.
• It should preferably be drafted by a lawyer, and checked by an accountant.
• It is advisable to name in your will, more than one executor/executrix to administer the estate and distribute the property, as per your desire.
• The will must be signed by you in the presence of at least two witnesses who must also sign the will at the same time. Their full names and addresses should be given
• The executor or beneficiary cannot attest the will as a witness.
• The executor of the will can also be named as a beneficiary and vice versa. Sign each page of the will, so that nobody can substitute a page later on, nor can anybody argue about fraudulent insertion of a page subsequently.
• Keep your will in a safe place. Inform the executor and beneficiaries where the Will is kept. Also give a signed copy to your lawyer.
• Review your will regularly, say once a year. It may need revisions to take care of changes in your financial or family circumstances.
• On the demise of a spouse, the surviving spouse needs to revise his/her will.

Some legal terms of a Will

Estate: The sum of all the assets of a person, less his liabilities becomes his estate. In short, all properties, bank accounts, investments, insurances and collectibles, less the liabilities of a person, are collectively called a person’s estate.

Testator: A person who makes his will is a testator.

Executor: A person who executes the contents of the Will after the demise of the testator is called the executor. The executor is the legal representative for all purposes of the deceased person.

Legatee/ Beneficiary: Legatee is a person who inherits the estate. You should state how you wish your assets to be distributed. This includes naming one or more persons whom, you would like to receive all or part of your estate when you die, and who will benefit if your first choice beneficiary (or second or third) predeceases you.

Probate: Probate is the legal process of settling the estate of a deceased person, specifically resolving all claims and distributing the deceased person’s property under the valid will.

Now that you are educated with information regarding making a will you can begin making your will immediately. Simply go to www.createawill.com and download your low cost do it yourself will online today.

One of the most important decisions in your life may be to protect your assets and your wishes before you pass.

One of the most important contracts you may ever sign in your life is one that will protect your assets and your wishes after your life is over. A will is one way to ensure that your assets and final wishes are respected and can be a great comfort to your family and friends upon your death. Maybe you’re thinking that you may not be able to afford a will to be drawn up by an attorney. Or you think to yourself that you don’t have much anyhow, so why put it in writing. So let’s just look at this realistically. You may not think you have a lot of assets, but if you own any property or anything of cash value, you need a will. Its very simple.

Designating a beneficiary on your insurance policies and establishing a Pay on Death Clause in your bank accounts can help with some of these issues, but not everything allows for this. While you may believe your spouse or child is going to automatically inherit your property, this is not a fact. Courts have granted an ex-spouse and distant relatives a person’s estate and assets when there has not been a clear indication of those items being willed to someone. This is how important it is to have a will created before you pass.

As far as affording to create a will, there are more options available than ever before, and one of the newest options for creating a will and testament is using on online do it yourself state specific create a will kit.

The first step you need to take toward creating an online will is to get your paperwork together. You will need at the very least all of the following items:

· Bank Accounts and Account Numbers

· Vehicle Identification Numbers to any vehicles

· All Credit Card Information

· Mortgage and Title/Deed on Homes

· A list of personal property belonging solely to you

· A list of personal property belonging jointly to you and someone else

· Child custody and birth records or information for minor children

· Any documents or papers for residual income, royalties, copyright ownership, patents held

Anything else you can think of that is important to you that you want to give to someone else in your life. Before you begin to create your will, you need to get all of your information together and in one place, because this will make creating the will faster and easier.

The next step in the process of creating an online will is to find the will creation service, software or document you want to use. You can begin your low cost attorney free down-loadable create a will forms and kit at www.createawill.com and begin to protect you’re assets and properties today.