Marry the love of your life, build a family and home together, and then make sure they inherit when you’re gone. A will ensures that all your belongings go where you want them to, even if complications arise.
Importance of Having a Will
1. Will Allows You to Pass on Your Assets Without Probate
You don’t have to go through the exhausting and confusing process of having your assets and debts administered and distributed by the state.
2. Will Is One of the Easiest and Most Affordable Ways to Protect Your Family
You don’t need to hire an expensive lawyer or pay extra court fees to write up a will legally. You can get what you need online or at your county courthouse.
3. Will Can Prevent or Reduce Tax Liability
By writing up a will, you can ensure that your family doesn’t get involved in paying any inheritance taxes when you pass on your assets. These taxes could significantly reduce how much wealth is available for your spouse and children, which is why having a will is so important.
4. Will Is a Sound Financial Planning Strategy
Many older peoples need to be made aware that they should have wills in place because of the cost, time, and difficulty associated with probate. A choice can help you protect your family’s wealth and assets, no matter how old you get. Sometimes, this could mean the difference between life savings or financial ruin.
5. Will Protects Your Family’s Privacy
The most important reason why you need a will is that it allows you to protect your family from unwanted voyeurs and strangers who could want to know everything about who you are, where you live, and what you own. A will prevents this from happening by only allowing the people listed in it to handle the distribution of your assets after death.
How a Lawyer Can Help You Create a Will
1. A Lawyer Can Help You Decide How to Share Your Assets
A lawyer can help you ensure your wishes are followed and that your loved ones live comfortably after death.
2. Lawyer Can Help Minimize Taxes
Your will can reduce the amount of tax liability on your estate by using specific tax-saving devices such as charitable trusts, special beneficiary designations, and life insurance policies.
3. A Lawyer Can Help Draft Your Will if You’re Married with Children
If you have children from a previous marriage, a lawyer can ensure the assets in your will are divided according to state laws and the needs of your surviving spouse and children.
4. Lawyer Can Make Sure Your Family is Protected
A will can protect your family and loved ones against potential creditors who may try to collect on debts you owe at the time of your death. A lawyer can also help you name a guardian for your children if something happens to you and your spouse.
5. Lawyer Can Help Protect You From Being Sued
A will can help your family avoid being sued if someone thinks they deserve a piece of the pie after your death or if they feel that they have a better claim to one of the assets in the will than what is written in the document itself.
Writing up a will is easy to plan for the future and ensure that your family has what they need when you’re gone.
