It’s amazing to me how many people don’t have a will. And if they do have one it was created many years ago when their estate planning needs were very different than they are now. With attorneys now offering online estate planning services that are inexpensive and easily obtained using your computer at home, the common complaints of “it costs too much” and “I don’t have the time” are no longer valid excuses.
So now that 2015 is freshly upon us (geeze, where did 2014 go?!), why not make getting a will one of your top New Year’s resolutions? Yes, things like eating less junk food, exercising more, being nicer to your significant other, etc. are important. But I promise you that having an updated will and other estate planning documents is one of the best things you can do for yourself and your loved ones.
Below are some of the most important reasons for having a will:
1. If you die intestate (without a will) state law will dictate who gets what from your estate. In other words, your assets could easily get distributed very differently than what you would have wanted.
2. If you have minor children and you die without the appropriate legal documentation, the court will appoint a guardian for your children based on statutory guidelines. This means your children may go to someone you would not have chosen.
3. Dying without a will could tie up much needed assets for a very long time, possibly years in worst case scenarios. This is the last thing your loved ones need during such a difficult time.
4. If you die without a will your estate and family members could possibly rack up substantial legal fees and court costs that could have easily been avoided with a properly written will.
Do you have any questions?