Studies show that 67% of Americans have no estate plan, meaning thousands of people walk around without important documents that provide security for family and personal assets.
Even though most people overlook writing a last will and testament, it’s essential to prioritize this if you want to ensure your loved ones inherit your estate and other personal items.
So, to answer the question, do you need a will? Keep reading this article to discover all the advantages of having a will and where to find the best lawyer to help you.
Do You Need a Will?
A will is a document that states your wishes around the distribution of your property and the care of children. This is a vital document that’s necessary if you pass and you need to leave children in the care of others.
Therefore, the answer to the question “Do you need a will?” is yes.
Without this document, your children could be left in the care of someone else, and the same could happen with your property. This could force loved ones to spend hours sorting through documents and spending money.
Not only is this a time sink for people, but it can be emotionally draining for family members when someone passes.
Writing a will give you control of the distribution of assets so that you can avoid dying intestate and your assets being placed in the hands of the courts. You’ll need to contact a lawyer for wills to validate your document.
It’s essential that you have the document approved and credited by attorneys, as this will ensure your wishes are followed through in the case that you pass.
What Does a Will Cover?
There are various details covered in a will, such as bank balances, prized possessions (cars, antiques, etc.), and properties. Although if you won a business, this could also be included in a will.
Depending on your personal situation, a will allows you to donate your assets to charity if you don’t want to leave them to family. Likewise, you can also assign assets to an organization or facility.
If you’re unsure about what is included in a will, it’s a good idea to contact a lawyer and enquire about your life circumstance and how to include them in the document.
A professional can guide you through the process so everything is added to the document that you care about, and you won’t have to cause unnecessary stress to loved ones.
Tips for Writing a Will
Once you’ve decided that you want to create a will, you need to outline a few vital details about your life and assets. But most of us have never thought about a will until the time comes when we’re faced with the paperwork.
Thankfully, there are a few steps you can take to guide you through the process and double-check the information, so nothing is left out.
Firstly, you should list everyone you want to include in your will. As already mentioned, this can be your close family members or a favorite charity that you wish to include in the document.
Then, you can think about making a list of all your assets. Ideally, you should separate your items and properties into different categories in order of importance.
You should also list your debts, mortgages, loans, etc., which is also important to note in a will. The last step is to get documents of all bank statements, mortgage paperwork, and other official receipts.
Benefits of Having a Will
Besides providing safety for your loved ones, another reason to have a will is to secure your pet’s home and choose executors.
Everyone will have different family situations, but there will always be a reason to have this document. For instance, if you don’t have children, you should still write a will for your pets and animals.
Whether you live on a large homestead or have several household pets, it’s essential that you make sure someone can take care of them if you pass. You can name a beneficiary for your pet so they can have a new home.
A will allows you to leave your pet in the care of someone you trust, and you can allocate your fund to looking after them. But, a will also has the advantage of paying less inheritance tax.
An inheritance tax is the amount of money the person who inherits money or property must pay after you pass. This can cause a lot of trouble depending on the amount of money or assets left in a will.
By working with a lawyer, you can review the will details to find ways to minimize inheritance tax on all your assets.
Find the Right Lawyer
You don’t want to write a will from a lawyer without experience with these documents, which is why our team is here to help you. A professional lawyer will know what to include in the will and give you tips for picking beneficiaries.
After all, leaving your personal belongings to someone is a huge responsibility, so you want to work with a team you can trust. Plus, the paperwork can feel overwhelming if you’ve never seen it before.
But, a lawyer will know exactly where to put personal details and how to allocate different asses between loved ones. This way, you can get through the process quickly and secure your belongings.
Write a Will for Your Future
Now that we’ve covered all the answers to the question”Do you need a will?” the next stage is contacting our team to find out more about our services.
You can browse our website to find out about our lawyers and reach out to discuss writing your will. It’s important to write a will, but you don’t need to spend hours finding the right lawyer.
Luckily, with us, you won’t have to worry about writing the will yourself. We have the experience and knowledge to ensure that you have a will written quickly and efficiently.
Call us here, and we’ll be happy to talk with you.