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Do you really want to write your own will? Writing your own will doesn’t have to be a painful process, but you do need to invest some time and effort to get it right. A good will clearly states your intentions and will pass the legal requirements necessary for it to be a valid last will. This article covers some of the key points to consider if you are thinking about doing it yourself.

The reason to have a will is to create a legal document that will be used to pass along your personal property and financial assets after your death. If you have a complicated portfolio of assets and other financial instruments then creating a will is a more complicated matter. A proper estate plan in this instance will likely require more legal instruments (ex: trusts) than just a will. This is a clear case to use professional estate planning help.

The first step in writing your will is to get all of your homework done. This means that you need to create a financial and material property inventory. All assets, liabilities and property that you own need to be added to the inventory so that you can create a plan for each item. Items that have personal value to more than one of your heirs are items that require special consideration.

After the preparation step it is time to create the core of your will. This should be a specific yet high level list of each item and who you want to receive it. Having groups or categories of items is fine as long as there isn’t any ambiguity as to items or your intended recipients. It may be a good idea to talk to your hears while you are writing your will to get their feedback on what is really special to them and what isn’t.

Of special concern is dealing with dependent children in case you as the sole parent or you and spouse both pass away at the same time. Establishing guardianship intentions requires extra thoughtfulness and is one of those instances where getting professional help is a very good idea. Whatever your plans are in this area, be sure to communicate regularly with everybody involved to avoid problems in the future.

Writing your own will can be a very positive and fulfilling experience. After the required research into your state’s specific legal requirements, you will be thinking about and making decisions on very impactful issues. This is a time of reflection and appreciation for what you have and those that have impacted your life. Take advantage of this opportunity to communicate to the people that you are thinking about most during this process.

The negatives of writing your own will come down to a couple of key issues. It is a time intensive process to research your states specific requirements and write up your will. It may be a difficult process both mentally and time wise to the point that you don’t complete it on your own. The biggest negative is that you may not craft a valid will and it may be nullified after your death. In that case your property is distributed according to your state’s laws and your intentions are not legally binding on the process.

Many people have written their own wills and haven’t had any problems with them being legal and valid documents. Others have gone through the worst case scenario of having the wills nullified and their assets were then distributed according to state probate laws. Even if you are confident in your ability to write your own will, it is a wise move to get your final will reviewed by a professional estate lawyer to make sure there aren’t any unforeseen issues or complications hiding in your last will and testament.