Make a Will

by Mary Randolph, J.D.

Here are the few simple steps you need to take.

1. Decide what property to include in your will.
To get started, list your significant assets. Then decide which items should (or must) be left by other methods, outside your will. For more information, see What a Will Won't Do.

Keep in mind that if you're married, each spouse makes a separate will. You can leave only your share of assets you own jointly with your spouse. For more information, see Marriage & Property Ownership: Who Owns What?

2. Decide who will inherit your property.
For most people, it isn’t hard to decide who gets what. (But if you are considering leaving your spouse or children out of your will, see Inheritance Rights.) After you make your first choices, don't forget to choose alternate (contingent) beneficiaries, too, in case your first choices don't survive you.

3. Choose an executor to handle your estate.
Every will must name someone to serve as executor, to carry out the terms of the will. Be sure that the person you have in mind is willing to serve -- the job shouldn’t come as a surprise. For more information, see  Executor FAQ.