Some people think that they don’t have enough assets to make estate planning worthwhile. But the assets you do have could be quite valuable to members of your family and those you support. In order to make sure that all of your property is considered in the making of your will, sit down and create a list of all your assets as you begin the process. Don’t forget to list:

• Real estate
• Vehicles
• Checking and savings accounts
• Stocks and investments

You might want to make a list of specific items that hold value to you, as well. For example, if you have pieces of art or jewelry that you’d like for a specific person to receive when you die, you could identify the items and the person you want to have them.

In Alaska, you can create a document called a tangible personal property memorandum. In this document, you’d list items of sentimental value like keepsakes or photographs, and then refer to the document in your will. You can only use a tangible personal property memorandum for personal property. It can’t be used to convey your wishes for your real property.

One important part of creating your will is picking your beneficiaries. A beneficiary is a person who receives something from your estate. As the person who’s making the will, you are the testator.

There are requirements for testators under Alaskan law. According to Alaska Statutes Section 13.12.501, you must be at least 18 years of age and of sound mind in order to make a will. If you meet these requirements as a testator, you can begin by picking out your beneficiaries.

People often decide to choose family members and friends as their beneficiaries. You might also want to consider listing charities as beneficiaries of your estate. Just make sure that you identify people and charities as specifically as possible, using their legal names.

If you don’t name any beneficiaries, your spouse and children would receive shares of your assets under Alaska’s laws of intestacy. When you create your own will, you can dictate how you want your property to be distributed (with certain exceptions).

You can do more with your will than just dispose of your property. You can also choose a guardian for your minor children or incapacitated adult children. A guardian is a person who would provide for your children’s needs and make decisions for them if you (and your spouse) died. You should choose someone you trust as a guardian. It’s also a good idea to choose an alternate guardian, just in case the first person you chose is unable or unwilling to care for your children.

A personal representative, also known as an executor, is the person who’s responsible for paying debts and administering the estate when you pass away. This person may have to appear in court, so keep that in mind when you’re choosing the person to serve as your executor.

If you die without a will, a probate court can appoint a personal representative for your estate. But the person the court chooses may not be the person that you would’ve wanted to handle your affairs.

Alaska Statutes Section 13.12.502 lists the requirements regarding the execution and witnessing of your will. Importantly, an Alaska will must be:

• In writing
• Signed by the testator
• Signed by two witnesses

It’s also acceptable if the testator directs someone else to sign their name in the testator’s presence. The individuals who serve as witnesses must witness the signing or the acknowledgment of the signing.

Unlike some other states, Alaska recognizes holographic wills. A holographic will is a will that is handwritten by the testator and signed by the testator. Witnesses are not necessary for holographic wills.

It could be beneficial to your family if you go before a notary and get the will properly notarized. A notarized will is self-proving, which means that your family won’t have to endure the hassle and cost of bringing witnesses to court to testify to the validity of the will.

Many people find that they need to revise their wills as major life events occur. Examples of these types of events include:

• Marriage
• Divorce
• Birth of a child

If you find that you need to revise your will, you can do so. If you use our forms to create your Alaska will, you will have an entire year to make edits or revisions to your form.