Writing a last will is an important part of estate planning that allows you to determine how your assets will be allocated after you pass away. Without a will, your estate will be subject to North Carolina intestacy laws that may not align with your final wishes.
Without a clear, legally valid will in place, your estate could end up in probate court, where a judge may distribute your assets and appoint guardians for any minors according to state law rather than your wishes.
Here are 10 tips to help you write a last will in North Carolina, whether you choose to do it yourself using an online will service or by consulting an estate planning attorney.
1. Decide If You Need an Attorney
While not legally required in North Carolina, consulting an estate planning attorney is highly recommended, especially if you have a large estate or complex assets and beneficiaries. A lawyer can help ensure your will is valid and enforceable.
However, writing a will without a lawyer is possible using online templates or software for smaller, more straightforward estates. Just make sure you fully understand North Carolina laws and will formalities.
2. Choose an Executor
Your will should name an executor, the person who will carry out your wishes after you pass away. Choose someone you trust, like a family member or close friend, to take on this responsibility. Consider whether they have the time and ability to take on this important role.
Make sure they understand what being an executor entails and are willing and able to serve. If you don’t have a good option, you can hire a lawyer or bank to be executor for a fee.
3. Select Beneficiaries
One of the main intents of a will is to designate beneficiaries to inherit your assets. As you make your inventory, think carefully about who should receive which possessions.
Good questions to ask are:
- Who would value or make the best use of each item?
- Are there sentimental pieces you want to keep in the family?
- Would anyone be hurt or offended by your choices?
Splitting assets evenly isn’t always ideal. Take each beneficiary’s needs and relationship with you into account. And be sure to name contingent beneficiaries in case your primary choices are unavailable.
4. Name a Guardian for Minor Children
If you have minor children, your will is critically important for naming a guardian to care for them if you and your spouse both pass away. Think carefully about who you would want to raise your kids and provide a stable home.
Discuss this choice with the potential guardians before finalizing your will to ensure they are willing and able to take on this role if the need arises.
5. Be Specific About Assets
The first step is to take a full inventory of what you own. Your will needs to account for all of your assets, including:
- Real estate property
- Bank accounts and investment accounts
- Life insurance policies
- Retirement accounts
- Vehicles and other valuables
- Personal property
Don’t forget to list digital assets as well, like social media accounts and cryptocurrency wallets. Having a clear picture of your whole estate will make dividing it up easier.
6. Make It Official
For your will to be legally valid in North Carolina, it must be signed by you and two adult witnesses. Witnesses cannot be beneficiaries.
You and the witnesses should sign each page. Notarization is not required in North Carolina but can prove the will’s validity.
7. Store Your Will in a Safe Place
Keep the original copy of your signed and witnessed will safe but accessible. A fireproof safe, safe deposit box at your bank or your lawyer’s office are good options.
Give copies to your executor and beneficiaries. Let your family know where to locate your will when needed, but keep it private until then.
8. Consider a Living Trust
A living trust can help avoid the North Carolina probate process, which is public and can be lengthy. Assets in a trust pass directly to beneficiaries privately and quickly.
A trust can give you more control than a will. Speak to an estate planning lawyer about whether adding a trust is right for you.
9. Review Your Will Periodically
Major life events like marriage, divorce, new children, or buying property all call for reviewing and updating your will. A good rule of thumb is to revisit it every 3-5 years as your circumstances change.
Keep old versions for your records, but destroy out-of-date copies when you make a new will. Make updates clearly and have the new will resigned and witnessed.
Following these tips can help you write a legally valid last will and testament in North Carolina. But, laws and best practices can change over time. Connect with an estate planning lawyer like Cary Estate Planning for personalized guidance and to ensure your final wishes are clearly documented and enforceable.
10. Include Other Key Estate Planning Documents
In addition to a will, other documents like a living will, power of attorney, and healthcare power of attorney are important to have. These give others authority to make decisions if you become incapacitated.
Meet with an estate planning lawyer to ensure you have a fully comprehensive estate plan. Your will is just one piece of the puzzle.
Get Started on Writing Your North Carolina Will
The attorneys at Cary Estate Planning take the time to understand your unique circumstances and goals. Their estate planning lawyers create customized plans using the latest strategies allowed under North Carolina law.
Their will lawyers have offices in Cary, Raleigh, Wake Forest, and Chapel Hill for your convenience. You can also schedule a consultation online.
Get the peace of mind of having an estate plan that protects your family and gives you control over your legacy in North Carolina.
