Drafting a last will and testament might not exactly be high on your list of priorities right now, but it is something you need to begin thinking about sooner rather than later. With the right legal help, a will often only takes about 10 to 15 minutes to draft. If that is not convincing you, here are just a few more reasons why you absolutely need to consider drafting your will right now.
Appointing a Guardian
One of the most important reasons to draft a will and start your estate planning now is to appoint a guardian for your children. Nobody knows your children like you do, so the task of finding an appropriate guardian and listing their name in your last will and testament falls to you. This is a legal issue that often requires the help of estate planning lawyers, especially if you plan on leaving your home to the guardian you’ve appointed.
Protecting Your Business
If you are a business owner and want to make sure your pride and joy survives long after you have passed away, you need to address it in your will. Creating a last will and testament or using a living trust can ensure that your business will be handed down to parties that you trust entirely with it. Whether you select family members, partners in the business, or a trusted employee, your last will and testament will ensure your wishes are appropriately carried out.
Splitting Your Assets
No matter the size of your estate, dividing up your assets is another important issue that requires legal help when drafting a will. Your family heirlooms, home, cars, and other assets should all be handed down to the appropriate party. Unless you draft a will, your possessions will be handled according to state law and they may not necessarily make it into the hands of the people who you wish to have them.
Creating a will does not have to be a chore, but it certainly cannot be put off. If you want to make sure all of your loose ends are tied up nicely, creating a will as soon as possible is going to be your best bet.