5 Reasons You Should Have a Last Will and Testament
There are many reasons people do not want to think about making a will:
- Fear of facing their own mortality
- Rationalizing there is plenty of time
- Minimizing their financial situation
- Expecting someone else to handle it for them
No matter your age or financial status, it is very important to make sure you have a will in place. Failure to create a last will means giving the government the authority to handle your estate as it sees fit once you’ve passed. Continue reading today’s post to learn five reasons why you need to have a last will and testament.
At Heather Lynn Law, APC in Rancho Cucamonga, our Top Rated Local® law firm is here to provide the legal expertise you need to protect yourself and your assets. From estate planning and living trusts to will planning and more, we have the knowledge and experience to help you make the right decisions for your situation. Contact us today to get your free consultation.
1. Choose Who Inherits Your Assets
No matter the size of your estate, a will gives you the ability to choose who will inherit from your estate and in what amounts. Failure to create a will means that you are essentially granting the government permission to determine who inherits your estate and how much they will receive based on their legal relationship to you.
2. Determine Who Carries Out Your Wishes
Determining who carries out your wishes is an important decision, as this person will be required to collect all of your assets, pay any debts, and distribute the remaining funds according to your wishes. Since the government doesn’t know the relationship between you and your family, failure to create a will means the person selected by the system to serve as your representative may not be someone you trust.
3. Decide Who Will Be the Guardian for Your Minor Children
No parent wants to consider the possibility that their children will be raised by anyone other than them, however, it’s important to think about who you want to raise your children in the event of your passing. Before you designate anyone as guardian in your will, be sure to talk with them about the responsibility involved to ensure they understand the seriousness of your request.
4. Save Time, Money, and Stress for Your Loved Ones
Your estate will likely have to go to probate court to start the legal process of distributing your assets. Without a will, the process can become fairly complicated. Since the court will have to appoint a personal representative for your estate, this could create a time-consuming, expensive, and contentious situation for your loved ones.
5. Outline Funeral Instructions
You may not want to think about your own funeral, but planning for it now means you can lessen the emotional burden and stress for your loved ones when you pass. Creating instructions for your funeral means that the person you appoint to manage the process can use your requests for the service, location, and final resting place to help things go more smoothly.
Estate Planning Attorney
Hopefully, you have a better understanding of the importance of making sure you have a will in place. Contact the law offices of Heather Lynn Law, APC in Rancho Cucamonga to schedule a free consultation today.