After you pass, a Will is the written document that speaks for you. A Will communicates how you will want your assets to be distributed and what you want to be done with your property and assets. A Will can also be used to name a guardian for your child/children and leave special instructions for your funeral. You may not know if you should write a Will yourself, have it done professionally, or even where to start.
If you are someone with assets, property, or family, then you should have a Will. Your Will should be updated throughout your life and significant events like marriage, having children, divorce, or property acquisition. This is a document that should be reviewed regularly to reflect your life and wishes. If you pass without a will, you risk your assets being dispersed based on the laws in your location.
Creating a Will is very important and highly recommended. Once your Will is established, you can rest easy knowing that your loved ones and your estate are taken care of. Today, we will take a closer look at the benefits and the details of establishing a Will to help demystify the process.
4 Reasons Why You Need A Will
A will lets you decide what happens to your estate and belongings. Not having one can make it more difficult for anyone in your life whom you want to make sure has financial support after your death. There are several important reasons why you should consult a legal professional with experience in estate planning to establish your Will.
1. Save Time, Money, and Some Stress for Your Loved Ones
Even if you do have a will, most estates will have to go through probate court to start the process of overseeing the distribution of assets. If you don’t have a will, however, this process can get even more complicated. The court will have to name someone as a personal representative to your estate. This can be a time-consuming and expensive process for your loved ones in an already trying time.
A Will is typically used to streamline the probate process. Having a will makes it easier for a person of your choosing (the executor) to handle your estate and carry out your wishes.
2. Choose Who Will Be the Guardian of Your Minor Children
If you are a parent and have children under the age of 18, you can use your will to nominate who you think will be a fit guardian for your children. If there is a surviving parent, they usually will be the ones to get sole custody of the children. Yet, if both parents pass, this is then up to the state to decide.
Whoever you nominate as a guardian will be responsible for the daily needs of your child, including food, health care, housing, clothing, and education. If you die without a will, and have not nominated a guardian, the court will choose one on your behalf. While the court does its best to act in the best interest of the child, unless you nominate a guardian, you have no control over this process and risk your child being in the custody of someone you do not wish them to.
3. Decide Who Will and Will Not Get Your Assets and Your Property
It’s common knowledge that a Will lets someone decide who gets to have their property. A Will also allow you to name a person as a beneficiary for specific assets. If you would like to list beneficiaries for properties that you don’t have listed, you can call them the residuary of your estate.
You might not know that you can use a will to ensure that some people don’t receive anything. An example would be if you wouldn’t want an ex-spouse receiving an inheritance. Or if you have a child who received your help through financial hardship or schooling and would like a second child to get a fair share as well.
4. Leave Funeral Instructions
It can be difficult thinking about your funeral. However, if you plan and think about it now, you will be able to lessen the burden for your loved ones when you pass away. These instructions are not legally binding, but they do allow for your trustees to have some guidance for anything you wish when you pass.
You can name an executor to manage the funeral process and give suggestions for services and locations by including instructions. This document will also allow you to make requests for your final resting place and much more.
It’s Easy to Make a Will and Gain Peace of Mind
Some people may put off creating or updating their Will because they believe their loved ones will automatically get their inheritance. This isn’t always true.
At Valley Divorce Services, we want to help you look after your loved ones and give them an easy roadmap to follow after you pass away. WIth 20 years of legal experience, we know precisely how to provide expert legal document assistance that will give you and your loved one’s peace of mind.
With Valley Divorce Services’ professional legal guidance, It’s easier than ever to make a Will that works for you. From family law to estate planning, our legal document preparation services offer an affordable option for legal document help!
Request a free legal consultation today for more information on how we can help you plan for the future.