4 Reasons to Create a Will
Perhaps someone has spoken to you about creating a will and you think there’s not really a purpose. You don’t have a lot of assets and you think your family will work well together to figure things out when you pass on. Unfortunately, it’s not always that easy. The following are a few reasons you should get with an attorney to create a will.
- To Protect Your Children
When a child has only one parent and he or she dies, that child becomes the responsibility of the state. In many cases, the child ends up with a relative, but wouldn’t you rather decide which relative is going to raise your children? What if the state doesn’t see fit to place your child with a relative and he or she ends up in the care of a stranger? When you make a will, you get to decide who your children go to, who takes care of their finances, and other specifics regarding their wellbeing.
- To Protect Your Spouse
Without a will, your spouse may not inherit your entire estate. For example, if you have children with a previous spouse, your current spouse would receive half of your estate and your children’s other parent would receive the other half. If you don’t have any children, there’s a chance your spouse will split the estate with your parents and siblings.
- To Protect Your Assets
A living will is something that goes into effect as soon as you sign it. This protects your assets if you have a positive net worth. This also makes it easier for assets to be distributed after your death and prevents your family from having to worry about who should be the distributor and receiver of the assets.
- To Support a Charity
Perhaps you’re so well off you’ll have the assets needed to support a charity after your death. You may want to leave your entire estate to that charity. Whether your surviving family members are well off as well, or you simply don’t trust them to manage your estate, this is a good way to leave a lasting mark on the world.
Contact a Lawyer to Get Started on Your Will
You never know when nature will take its course and your life will end. While you can’t always predict it, you can prepare for it. Contact a lawyer, like an estate planning lawyer from the Yee Law Group, today to get your estate in order and to make a will for the benefit of those you love.