People don’t like to think about what happens after they die, but it’s an inevitability that we all must face. One of the most important things to consider is what will happen to your assets and most prized possessions, not to mention who will handle your estate when you are gone. Most people understand that this is usually dictated within a will, something that a surprisingly large number of people don’t have.
Some people might believe that they don’t need a will, but the truth is that almost everybody should have a will. Even people who feel like they have nothing worth passing on to anybody else can still have a use for a will, preferably one that was prepared with the help of a law firm. Here are just a few good reasons why it’s important that you have a will.
What Happens to Your Possessions and Assets When You Die?
When most people think of a will, they imagine a document stating what will happen to all of their things when they die. While this isn’t the only reason to have a will, it is still very important. Without a will, what happens to all of your assets and belongings is determined in court, regardless of your own wishes or the needs and wishes of your next of kin. Laws that determine who is entitled to what vary from state to state, so having a will is the best way to state emphatically what happens to your assets when you are gone.
Protect Your Children
As with your possessions and assets, a court will decide who will gain custody of your children if you die. A will can allow you to name a guardian to take care of your children.
Name an Executor of Your Estate
Somebody will need to help take care of your estate when you die. Once again, this executor is named by the courts unless a specific party is named in a will. When it comes time to write out your will, you can name a family member or trusted friend to take care of this and ensure that all of your wishes are honored.
Help Take Care of Your Pets
Many people see their pets as family, so it stands to reason that people would state who takes care of their pets in their wills. According to Hall Tanner & Hargett PC, pets normally don’t get a lot of protection when their owners die; they are generally treated like property, with their fates left in the hands of the courts. A will can name a caretaker for your pets, and it can even state how much money will be allocated to caring for your pet. A will is not the only way to ensure that your pet is well taken care of once you’re gone, but it is perhaps the simplest way.
A will is relatively easy to make. You can make it yourself, but many people choose to have a lawyer make one for them. In any case, a will requires your signature and those of two witnesses to be legally binding. Think about getting started on your will today there will be many loose ends that you may as well have control over.