Getting a Will might be on your to-do list, but do you know why it’s important?
Here are the top three reasons.
Reason 1: A Will protects your family
If you have kids younger than 18 years old, a Will lets you designate a guardian to care for them if you pass away, like a close family member. It’s like owning a fire extinguisher: almost no one will ever use it, but everyone with kids should have one.
A Will also lets you pick your heirs. Without a Will, state law will control how your property is distributed, which may not be the best result for your family. But if you have a Will, you can make a plan that fits your family best. Maybe you would like your grandchildren to spend their inheritance on college. Maybe you would like family heirlooms to go to the right place. Having a Will lets you make those decisions.
Reason 2: A Will gives you peace of mind
Once you have a Will, it will be there unless you change it. Once you write a Will, you will have the comfort of knowing it is there to protect your family.
If you have children or grandchildren, then the time for a Will is now. Give yourself the peace of mind of knowing the matter is handled.
Reason 3: Wills save families’ money
When a person passes without a Will, the legal process for settling an estate becomes longer and more complication. Therefore, it costs more money to settle an estate where there is no Will.
In contrast, having a Will makes the probate process much less expensive, and makes it faster, which eases a family’s burden. An ounce of planning on the front end saves a lot of trouble on the back end.