Difference between revisions of "Preparing a Will"

Preparing a Will (view source)

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 == What your will does not include ==
-Most wills don’t cover details relating to the funeral service, burial, or cremation. Some do. You should discuss these wishes with your executor or family. Know, though, that neither the executor nor family are legally
-bound to honour these wishes, even if they’re expressed in your will.
 A will doesn’t deal with everything you own. For example, it doesn’t cover property you own in '''joint tenancy''' with someone else, such as a home or joint bank account. When you die, any property you own as a joint tenant usually becomes the property of the surviving joint tenant(s). In most cases, this property isn’t included in your estate. It’s said to “pass outside the will.” On the other hand, your share of property you own with someone in tenancy-'''in-common''' ''will'' be included in your estate.