Review Your Assets

• The first place to start when making a will is to review your assets and property. In order to make sure you think of everything, begin with your banking records, employment benefits such as 401(k) savings, investments, real property and other valuable items, such as art or antiques. In addition, review any documents you have saved that cover important issues, such as insurance policies. Make a list of these assets.
  
  

Determine Heirs

• The next thing to do when considering making a will is to determine exactly how you would like your property to be distributed upon death. For example, consider whether you want your children to inherit your property and what would happen if one of your children predeceased you. Perhaps you would want your grandchildren to inherit the predeceased child's share. Make a list of how and to what extent you would like your assets to be distributed.
  
  

Will Challenges

• You should carefully consider whether a contestation of your will, or will challenge, would be a possibility. Consider if a potential heir predeceases you and whether the remaining heirs would try to challenge the dispositions of your property. If you decide that someone might contest your will, most jurisdictions allow the inclusion of a provision that indicates that if a person contests the will and is unsuccessful, that person will lose his or her inheritance. This provision frequently minimizes the risk of a will contest.
  
  

Executors

• Another tip when considering making a will is to review the issue of who will serve as executor of your estate. An executor is a person, or persons, who will oversee and administer the will according to your wishes. First, consider if you want just one executor to serve on your behalf or if you would like co-executors who must agree in the administration of the will. In addition, determine whether you want the executor to have to post a bond in order to protect against any mishandling of your affairs.