What should be included in your will?

I am going to answer this question. I am working on my own will and have done some research into what all should (or can be) included. An adequate last will and testament will include the following:

• A specific list of your assets and who is to receive them in the event of your death. This covers everything from your clothes to your houses, boats, cars, bank accounts, investment accounts, etc. The more specific the better. The list is usually and addendum to the will itself.
  
• A specified guardian for any minor children or adults currently under your direct care. It is also good to name a second "backup" person in case your first choice passes away before you.
  
• An executor of your estate. This is the on in charge of transferring your assets per your wishes in the will. It is also good to have a second choice here in case the one you select passes away before you.
  
• Optional: You can have all or part of your assets going into a trust that starts the day you die. Trusts are complicated and you should consult legal counsel if you plan to do this.
• Optional: Burial instructions. You can detail here if you want to be buried or cremated, where your grave is to be if any, and other details.

It is also good to understand the estate laws of where you live. This is usually driven by the state. If you have no will at all the law will decide who gets your assets when you pass away. It is always best to have a will and keep it updated so your wishes are carried out!

Is your will up to date?