If you are getting older, it may be time to consider having a will drafted. Having a will drafted has a number of benefits, many of which can protect your family from hardships after your passing. A will puts you in control of the assets and wealth you have worked so hard to build, even after you pass away. If you aren’t convinced, check out the list of benefits below.
Why You Should Have a Will Drafted
1) Distribute your assets – A will allows you to choose where your assets go and who will inherit them. Without a will, it may be left up to the state to decide where your assets go.
2) Choose the executor of your estate – When you create a will, you will be able to name an executor. An executor will be the one who carries out your will and ensures that each individual receives what they are entitled to. When you are deciding who to choose as the executor of your will, make sure to discuss this role with the person. Some people may not be comfortable carrying out these duties.
3) Appoint a guardian for minors – If you have young children, they are likely the most important part of your life. A will allows you to appoint a guardian. Pick someone that is comfortable with taking on this responsibility and will care for them as you do.
4) You can change things up whenever you want – You can make changes to your will whenever you want. Have things changed? Do you want to include/remove someone from your will?
5) Peace of Mind – Even if you are not expecting to pass away anytime, it will bring you peace of mind to know that in the event of an accident, your assets will be left in the right hands. If you do not have a will, there is no guarantee that your family members will receive your assets and it will be heavily taxed.
Contact an estate planning attorney today to begin drafting your will.