Have you ever thought about writing a will? Some believe their assets are too small to worry about, others worry that the costs of writing a Last Will are too high. Others just don’t get around to it. While a will is used to distribute assets, it’s not just all about the money. If you’ve got a family, home, and a savings account, you should definitely have one.
There is so much more to wills than just for the distribution of assets. Writing a will, of course, is also your chance to clarify who gets what in your estate. Before you can do that, however, you have to tally up your assets. That includes your house, your investment portfolio, the value of your retirement plan account(s), and the payout(s) from any life insurance coverage. After adding these things up, most folks discover that they are worth more than they initially suspected. If you think that only the rich should be writing wills because they have an abundance of assets to be distributed, then you are fairly mistaken.
What else can you do with a will?
You can indicate your funeral preference! More often than not, we take death-related matters for granted and assume that our family members will know how we want our funeral to be arranged. In the end, they might be running around aimlessly, trying to do it their way. With a will, you will be able to have a say in your funeral legally.
For most people, the first time in your life that a will becomes imperative is when you have children. Forget about your assets for a minute. In the terrible event that you and your spouse die at the same time without a will, it falls to a probate court judge to name a guardian for your minor children, which isn’t a pleasant prospect. That’s why it is a crucial first step to name a guardian for your minor kids. You get to leave your children with someone you can trust, someone who can protect your children.
You’d also be able to relieve your family members of any physical or financial burden they might face upon your passing. When you don’t have a will, the distribution process can get complicated, and they will have to wait for the court order to access the funds, estate and other properties according to your wish. You’d even be able to provide a home for your pets and name a beneficiary for them!
Finally, you would be able to tell your family how much you love them. Your handwritten letters can be included as a part of your will, and those letters can deliver your love and beautiful words to your intended loved ones. These will be your last words to your beloved family. Even 50 years later, your children or grandchildren can request a copy of your letters and will
A will is more than just the distribution of assets. You can be clear about who gets your assets, identify who should care for your children. Through a will, you get to protect your family, protect your pets, and show your family how much you care for them. This is something that you can do for your family even when you are no longer alive.
Are you looking to draft a will? Let’s consult with a professional and learn more about Will Writing and get the ideal probate solutions for you at Probate Enterprise.