Practical Law Presentations Putting a Legal House in Order Preparing a Will The first step is to think about the basics: what property do you have, and to whom do you want it to go? Who should carry out your wishes (be the executor of your estate)? If you have minor children, who should be their guardian? Then meet with your lawyer to discuss your financial situation and estate planning goals. Your lawyer will review any documents you've brought in and ask questions that will help you think through various issues and possibilities. He or she will outline some of the options the law provides for accomplishing your goals. It will be up to you to make your own choices from among those options. Then, based on the choices you have made, your lawyer will draft a will or trust. At a second meeting, he or she will review that document with you. If it meets with your approval, it can be signed then and there. You should review your estate plan periodically, perhaps every three to five years. This will enable you to adjust your estate plan to account for changes in your financial or personal circumstances, or changes in the law. Where to Keep Your Will It's not a bad idea to make a few unsigned copies of your will and have them available for ready reference, but to avoid confusion, you should sign only one original. This–and only this–will be your legally valid will. Keep it in a safe place, such as your safe deposit box or your lawyer's office. Some jurisdictions will permit you to lodge the will with the probate court for a nominal fee You should also keep a record of other estate planning documents with your will, such as a trust agreement, IRAs, insurance policies, income savings plans such as 401(k) plans, government savings bonds (if payable to another person), and retirement plans. >>Putting a Legal House in Order Home >>Estate Planning >>What Is a Will? >>10 Things Estate Planning Can Do for You >>Preparing a Will >>Protecting Your Property >>Health-Care Advance Planning Reaching the Community Home | Practical Law Presentations Home