5 Reasons Why Having a Will Matters.

Regardless of your age, having a will is important for your finances. It helps determine the allocation of your assets, ensures the well-being of your dependents and beneficiaries, and fosters a smooth process after you pass. Yet, recent studies have found that less than two-thirds of all Americans have a will. If you’re amongst them, here are the top 5 reasons why you SHOULD have a will:

1. Secure Your Intention: A will acts as a legal document that outlines your asset distribution upon your passing. Without a will, your assets will be distributed according to the laws of your state, potentially not aligning with your true wishes.
2. Guardian Appointment: A will allows you to appoint a guardian to care for your children should the unexpected occur. This is especially important should you and your spouse pass on.
3. Avoid Probate: A well-drafted will can help avoid probate. Probate is a lengthy and expensive legal process of administering your estate after death.
4. Offer Clarity & Comfort: The emotional toll brought by the death of a loved one can be difficult. A will not only ensures the clear distribution of your estate but also serves as a guiding light during a challenging time.
5. Peace of mind: Knowing your affairs are in order can bring a profound sense of peace. You can rest assured that your loved ones will be taken care of after you pass and that your wishes will be carried out.

Here are some additional tips for creating a will:

• Get professional help. An experienced trust specialist can help you examine your current finances and offer suggestions to help you meet your objectives.
• Be specific. The more specific you are about your wishes, the easier it will be for your loved ones to carry them out.
• Update your will regularly. Your wishes may change over time, so it's important to review your will periodically and make changes as needed.