In speaking with clients and potential clients, we are often asked “Do I need a will?” or “Why do I need a will?” These simple questions deserve an honest answer. Regardless of your age, financial status, family situation, and health, executing a valid will can only help, and sometimes it can make all the difference. We believe every capable adult should have at least a will in place.
Why Do You Need a Will?
You might benefit from having a will for many reasons. Your will designates how your property and assets will be divided upon your death. It also appoints a personal representative to administer your estate. An effective will should also appoint a guardian for your children if they are still minors when you pass away. Perhaps you desire to leave assets to a significant other or appoint them as the personal representative, who otherwise has no priority under your state’s laws. Simply stated, a will can clearly state your desires and ensure that they are honored when you pass away, regardless of what those desires are. Without a will, your desires may not come to fruition.
Why Don’t Some People Have Wills?
We have heard many reasons why some people do not have a will. Some people do not like to talk about what happens when they die. Others think that it will be too stressful or expensive to use an attorney. Many people think that they do not have enough money to execute a will, or that things will automatically fall into place when they die. Although it is important to be sensitive to these concerns, they can be addressed and should not prevent someone from executing a will.
In addition to having a will, there are other important documents that many can benefit from, such as a trust, healthcare directives, and financial directives. Everyone should consider taking the time to talk to an experienced attorney regarding these documents.