When it comes to birthdays and holidays, we always find a way to get our loved ones some sort of reminder of how much we love them. While the initial surprise only lasts a fleeting moment, some items become cherished relics stored in jewelry boxes, on top of bookshelves, or within a desk. Your Last Will and Testament can give your family the same kinds of gifts even after you are no longer around.
You can make two kinds of gifts when you make your own free last will with Freelawyer: a specific bequest and your residuary estate.
A specific bequest allows you to ensure a particular item goes to a specific person or organization. These are optional, but they’re usually the first distributed items. These can include intangible personal property like stocks, tangible personal property like antiques, and real property like a house. Just make sure to describe the gift as well as you can by including identifying features like serial or account numbers so anyone that reads your last will understands your intentions.
Your residuary estate refers to the remainder of your assets after your debts are paid, trusts are fulfilled, and specific bequests are given. For this section you can distribute anything that is left over by dividing it up among your listed beneficiaries. Here you can list the beneficiary and the percentage of your residuary estate that you wish to leave them.
Keep giving them the gifts they deserve, even when you’re no longer around for the birthdays and holidays. Make your free will online today on Freelawyer; we let you create, store and print your will as many times as you’d like for free.
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