Do you know five reasons you should have a will? It may be uncomfortable to talk about your will. However, it is an essential conversation if you are married, have children, own a business, or possess any number of assets.
Let’s explore some of the reasons why adults should have a will.
5 Reasons You Should Have a Will
Legal wills can take time to prepare, but they are worth it. Here are some reasons to ask an estate planning attorney to help you create a will:
1) Ensure Your Children’s Safety and Well-Being With a Guardian of Your Choice
One of the most important parts of wills and estate planning is setting up your children for the future. You can include guardian wishes in your will, along with details of how to use any trust fund or assets allocated to each child. It can comfort you knowing your children (and pets) will be well cared for in the event of your passing.
2) Give Your Loved Ones Time to Grieve Without Worrying About Your Estate
Your family loves you, and they will need time to process things. If they are unsure about what you would like to do with your estate, they may become stressed and spend more time than necessary figuring it out. Instead, make your expectations clear with a will. It will save them time, worries, and frustrations.
3) Prevent Family Fallout After Your Death
When someone passes away, the assets typically go to a beneficiary, who can disperse them among family members from there. Without a will, it may be unclear who gets what, which can cause strife in families. A will can clear up the confusion so that everyone knows what assets belong to them.
4) Peace of Mind in Case You Can’t Make Decisions for Yourself
A living will is essential if you are ever not in the right mind to make important decisions. You can select a power of attorney (or someone to speak, sign, and make decisions on your behalf). This should be someone you trust. On the off-chance that this person is difficult to find, a will can be helpful since it outlines your wishes in detail.
5) To Control What Happens to Your Assets After Your Death
The purpose of a will is to allocate your money toward the people, organizations, and charitable causes of your choosing. If you are concerned that one party might try to gain control over your assets (e.g., a family home), a will can stop that from happening. A will attorney can also help.
Everyone’s situation is different. However, wills are necessary to protect your family and assets now and in the future. Get the final word on what happens to the things you worked so hard to create in your life–and give your family time to process what happens. The effort it takes to make a will is worth it. Contact us today to schedule a consultation.