While most people know that having an estate plan is important, there are still many who don’t have one at all. If you have been procrastinating on writing your will, it may be time to finally finish it. There are a lot of reasons why you shouldn’t wait around to have an estate plan. While it may seem complex at first, if you have a lawyer, drafting your will doesn’t have to be overwhelming. If you’re looking for a reason to draft your will, here is what a will can do for you.
Takes Care of Minor Children
If you have minor children, you need to know that they are safe if something were to happen to you. When you draft a will, you are able to include who you wish their guardian to be. If you don’t have a will, the courts will normally decide. It’s better to have your input when it comes to the wellbeing of your children.
Dictates Distribution of Estate
Your will allows you to decide how your estate is distributed. If you don’t have a will, there’s no way of knowing if your wishes will be carried out. Do you have valuables or items that you want a specific loved one to have? Most people do. The best way to have your wishes honored is to have a will in place.
Allows Gifts and Donations
If you have charities that you want to support, you can include them in your will. Whether you have items that you want to donate or financial support you want to offer, you can include donations in your will. You can also include gifts to others. Gifts, keep in mind, can avoid the estate tax.
Prepares for the Future
No one can predict the future. A lot of people procrastinate on their wills, under the assumption that they will have time to do it later. Unfortunately, there are times where people do put it off for too long. If you don’t want your family or loved ones to experience more stress if something were to happen to you, then it’s important to be prepared for anything.
There are a lot of reasons that you should draft a will. Unfortunately, for a lot of people, it’s easy to put off. Instead of procrastinating on drafting your will, make an appointment with an estate planning lawyer in King of Prussia, PA today. This is the best way to stay prepared.
Thanks to Klenk Law for their insight into estate planning and what a will can do for you.