Legal Tips and Resources
What type of person are you? Do you like going on crazy adventures? Or, do you prefer cozy nights by the fire? Do you have a lot of money and investments? Or, are you living paycheck-to-paycheck? It doesn’t really matter because everyone should have a will, and there are at least seven great reasons to create one now if you don’t have one already.
1. Life is Not Promised
Regardless of your hobbies, life is not promised. Accidents happen, and they do not discriminate against specific lifestyle types. Therefore, while you are still breathing, take action and make a will to protect the things most important to you.
2. Children Need Protection
If you have minor children, then a will should not be considered a choice. You will need to create a legal document that explains and designates guardianship should you no longer be able to care for your children.
3. Your Estate is Yours
Beyond protecting your children, your estate is yours, and it is your right to distribute it as you deem fit. Without a will, however, a probate court will appoint an executor, and it will be their job to compile recommendations for how your assets are dispersed.
4. Beneficiaries Are a Personal Choice
Therefore, if you do not want a court-appointed person controlling and dismantling your estate, then it is necessary to name beneficiaries for financial assets. Also, for those assets that cannot have a beneficiary, you can put them into a trust, which can have a named beneficiary.
5. Charities Are Important
Again, without a will, your estate is in the hands of an executor and a probate court. Therefore, if you had plans to donate to favored charities or present gifts to nonprofits, it is necessary to put it in writing.
6. Probate Can Be Avoided
One common thread throughout this article is that probate can be invasive. Also, the process can be time-consuming, depending on the size of the estate. Therefore, to avoid probate, it is crucial to create a thorough and legally binding will governing all of your assets.
7. Nothing is Permanent
While writing a will today may feel daunting, know that nothing is permanent. If you draft a will tonight and decide a week, month or year from now that something needs to be changed, you can do it. Don’t feel like creating a will corners you; it should be freeing.
It is never easy to think about the end of life, but it is often necessary. Therefore, to make sure you and your estate are ready when the time comes, contact a will contest law firm in Philadelphia, PA and create your will.
Thanks to Klenk Law for their insight into estate law and reasons you need a will.