Making a Will

There is more than one way to skin a cat. - Ancient rodent proverb.

Assuming you have the motivation to do so, there are a number of ways you can go about making a will. Before examining the most common ways, however, it is important to point out a few things you should keep in mind as you go through the process.

The types of wills that you can make for yourself or have made for you can vary greatly. They often range in complexity and drafting difficulty. Always keep in mind what you want to achieve with your will and factor this in when picking a will drafting method.

Tip Knowing how to get what you want can often be just as important as knowing what you want. This principle definitely applies when it comes to making your will.

At the same time, never forget that, while you may save some money by using a less expensive method, the price of failure when making a will is having a part of or (worse) the entire will invalidated when it gets to probate court. In such case, a state's intestate succession default rules kick in to distribute the estate, which may or may not reflect your preferred method for distribution. The state's distribution default rules, however, will not compensate for any other part of the will that gets invalidated. So, no matter how you make your will, make sure that it is validly made.

With the above considerations in mind, take a look at the following choices of how you can make your will:

• Homemade Wills: Life-long do-it-yourselfers will be happy to learn that they can actually make their own wills from scratch. Before jumping in, however, learn about the risks, as well as the rewards, of making your own will.
• Canned Wills: Like soup in a can, you can purchase ready-made books, kits, and software with wills for you to use. Learn the pros and cons of this will making method.
• Attorney Drafted Wills: Perhaps the most traditional option of the bunch, find out if this method of making your will is right for you.