Most of us don’t spend much time thinking about or planning for our death. Still, if you’ve invested blood, sweat and tears over a lifetime to secure a comfortable lifestyle for you and your heirs, doesn’t it make sense that you should take steps to ensure your plans are fully carried out after you’re gone?
Though not a pleasant topic to ponder, it’s an important one. And, by selecting an experienced legal professional whom you trust, you can prepare for the future without much stress or worry.
Unfortunately, without advanced planning and proper documentation, your wishes may not be realized. If fact, nearly half of your assets could be spent on taxes, and your spouse and family could end up with far less than you had hoped for. What’s worse, your estate could be settled by courts and state authorities who have little regard for your wishes.
5 Reasons Why It’s Important to Create a Will.
Deciding who gets your Possessions. from property to household possessions and financial assets. Without a will (or a living trust), your state could decide how to distribute your belongings.
Naming Your Executor. You can name a person you trust to oversee the distribution of assets and ensure that your wishes are carried out. Otherwise, a court could appoint someone you don’t know or trust.
Naming a Guardian for your Kids. If you have children who are minors, this is an absolute must – unless you believe a court knows what’s best for your kids more than you do.
Identifying A Person to Manage Your Kids’ Property. If you plan to leave property to your minor children, you can name the person who will manage the property and give instructions about how you’d like to have it managed.
Creating a Backup to Other Estate Plans. A backup will can be used as a catch-all for any property that isn’t addressed in your living trust or other estate planning documents.
Why hire an attorney? Qualified estate planning attorneys are well acquainted with state and federal laws that impact how your estate will be handled upon your death. Some general practice attorneys may not have the expertise or experience to help you. That’s why you should consider hiring a lawyer that devotes full-time work to estate planning, trust planning, wills and probate matters.As you can see, there are many issues to consider when drafting a will, as an attorney, like a wills lawyer from a firm such as The Scroggins Law Group, PLLC, can explain.