You may have very loving children and share great relations with your family. After your demise, you, as well as your family members, know that all your assets and estate will be passed on to your children. If this is the reason why you think you don’t need to make your Will, you are sadly mistaken. Having a Will created by lawyers specializing in Wills is arguably one of the most important things you can do for yourself and your family. Let us understand why.
A Will is Essential to:
Decide the Inheritor of Everything You Own
The most common reason to have a Will is to decide how your assets will be divided amongst your children and other inheritors after your demise. Having a Will helps minimize any family disputes about the asset or estate ownership that may arise after you. A Will is a legally-binding document that your family members won’t be able to deny. They will have to accept the testamentary trustee that you decide for your assets.
Name a Guardian for Minor
If you have children under 18 years, having a Will becomes all the more important. A Will allows you to decide and specify who should take care of your minor children after you. You can appoint a guardian for them well in advance and secure their future. Without your Will in place, the court will take it upon itself to choose among family members or a state-appointed guardian.
Appoint an Executor
An Executor is a person who makes sure all the necessary processes are followed after your death, including the probate process, paying off bills, cancelling your credit cards, notifying the bank and other business establishments. By appointing Executors, you prevent uncertainty and worry amongst your family after your death. Without a Will, a court will appoint someone on a “first come first serve” basis to do the job of an Executor. You surely don’t want your valuable belongings to be handled by an “outsider.”
Speed Up the Probate Process
You must know that whether you create a Will with the help of lawyers specializing in Wills or you don’t have your Will, all your belongings will go through the standard probate process. However, having a Will speeds up the probate process and informs the court how you’d like your estate divided. This way, your inheritors are saved from the long and hectic days during the process.
Disinherit Individuals if Needed
It is possible to disinherit individuals who may otherwise inherit your assets if you die without a Will. If you don’t share good relations with your inheritors or you don’t feel they are capable of looking after your assets, you can disinherit them in your Will.
We understand that accepting death as a part of life can be difficult. But planning the lives of your family and other people after you is one of your responsibilities. Making things clear and easier for your near and dear ones today will give you peace of mind too. If you are looking for trusted lawyers specializing in Wills to create one for you, then get in touch with us.