5 Reasons You Need a Will

A will is a legal document that outlines your final wishes. It tells the court how you want your assets to be divided. Your will can name a guardian for your minor children. You can name an administrator for your estate. It can be hard to think about dying, but tomorrow isn’t promised for anyone, regardless of how old or young you are. Here are five benefits of having a will.

Reduce Stress on Your Loved Ones 

Dealing with death is one of the most stressful times for a family. Everyone seems to have different ideas about your wishes. A will tells your family how you want your property to be distributed. You can clearly state your wishes about a funeral or memorial service in your will. This greatly reduces conflict in a family.

Expedites Legal Issues 

Although your estate will still have to go through probate, a will hurries that process up. Dying without a will means that the court must determine how your assets are divided and who will manage your estate. Although some of your property may be jointly owned by you and your spouse or have a named beneficiary, you may have other property that is only in your name. It will take time for the court to deal with your assets and debts.

Names a Guardian for Your Children 

If you want to be sure that your children are taken care of after your death by a person of your choice, then a will is a must. Absent a will, the court will name a guardian. While this is typically the other parent, if you want their inheritance managed by someone else, you must do this legally.

Outlines Your Final Wishes 

If you want your body handled in a particular way after your death, you can name this in your will. For example, maybe you want to be cremated instead of buried. You can also specify your wishes for a funeral or other type of service. Your will must be honored.

Leave Gifts to Friends or Charities 

No matter how many times you tell your family that you want to leave a portion of your estate to someone outside of the family, only a will makes sure that will happen. If you want to leave a legacy to a favorite charity, you will need to specify that in a will.

Discuss your estate planning needs with an experienced estate planning attorney, like an estate planning attorney, to know that your final wishes will be respected.