A Will is an important estate planning document that most of us never take the time to create. A Will can help you achieve many of your estate planning goals. It can also be used to determine how your affairs will be handled after you pass on.
Take a look at the following 5 benefits to creating a Will. If you have any questions, or if you’d like to create a Will, let us know, we can refer you to an estate planning attorney.
1. You choose how your assets will be distributed after your death. If you don’t want the state to make this decision for you, it’s important that you take the time and make an effort to create a Will. This allows you to be in control of anything you leave behind. Most people don’t believe they own enough to write a Will. Anyone with a bank account needs a Will. Without a will, your assets may be given to the wrong people.
2. You can choose who will help manage your assets and estate affairs. With a Will, you appoint an executor. This person will help to handle your estate affairs after your death. This includes distributing assets according to your instructions, paying your debts, and paying taxes, just to name a few. If you want to make sure that your executor is reliable and trustworthy, you need to create a Will.
3. You’re able to appoint a guardian for the care of your minor children. Your children are probably the most important part of your life. If you have children, it’s important to make sure that they’re always protected and cared for. By appointing a guardian in your will, you will be able to do this.
4. You’re able to make changes to your Will at any time while you are well. Have you changed your mind about an inheritance? Do you want to leave assets to another beneficiary? Have your assets changed? If so, you may need to make changes to your Will. A Will can be updated at any time while you are alive and well!
5. You will have a greater peace of mind. Knowing that you have a proper plan in place will allow you and your family to feel more at ease. Without a Will, you may have fears about how future affairs will be handled.
If you have any questions about your need for a Will, would like to discuss the possibilities or if you’d like to create a Will, email firstname.lastname@example.org and we will refer you to a qualified estate planning adviser.