10 Reasons Why Having A Will is Essential
Erin Edgar
Attorney ? Family and Wealth Protection ? Estate planning for families with children ? wealth management ? special needs planning ? special education ? (919) 807-1863
As we recognize August as Make A Will Month, it's the perfect time to reflect on the importance of having a will, regardless of where you are in life. Here are ten compelling reasons why a will is invaluable:
?
Uncertainty About Asset Distribution
A will allows you to clearly define who will inherit your assets, ensuring that your property is distributed according to your wishes and preventing potential disputes among family members.
?
Family Conflicts Over Inheritance
By specifying your intentions in a will, you can minimize the likelihood of family disagreements or legal battles over your estate, preserving family harmony during difficult times.
?
Lack of Guardianship for Minor Children
A will enables you to appoint a guardian for your minor children, ensuring they are cared for by someone you trust if something happens to you.
?
Uncertain Future for a Loved One with Special Needs
With a will, you can create provisions such as a special needs trust to ensure that a loved one with disabilities is provided for without jeopardizing their eligibility for government benefits.
?
Assets Going to the Wrong People
A will allows you to specify who should not inherit from your estate, ensuring that your assets go only to the people you choose.
?
领英推荐
Delays in Settling Your Estate
A properly drafted will can expedite the probate process, reducing the time and expense involved in settling your estate and allowing your beneficiaries to receive their inheritance more quickly.
?
Tax Burdens on Your Estate
Through a will, you can plan for tax-efficient strategies, potentially reducing the tax burden on your estate and maximizing what you leave to your loved ones.
?
No Say in Your Funeral Arrangements
Your will can include your wishes for your funeral and burial, ensuring that your preferences are respected and relieving your family of making these difficult decisions.
?
Lack of Control Over Digital Assets
A will can provide instructions on how to manage your digital assets, including social media accounts, digital photos, and online banking, ensuring they are handled according to your wishes.
?
Unfulfilled Charitable Intentions
A will allows you to leave a legacy by making charitable donations, ensuring that the causes you care about continue to receive support after your passing.
?
Making a will is a vital step in protecting your loved ones and your legacy. This August, take the time to ensure that your wishes are clearly documented. It’s never too early to secure peace of mind for the future.
?