When asked why they do not currently have a written will, approximately 57% of respondents reported that they simply haven’t gotten around to it. That may hold true, but as it turns out, a will is one of the most important legal documents to have in your possession, according to Business Insider.
Despite the challenges and complexities of estate law, when working with a specialized lawyer a will does not take long at all to draft. In fact, a simple draft can be done within 15 minutes. Here are a few more reasons you should look into creating a will sooner rather than later.
You Decide How Your Estate Will be Distributed
Unlike legal issues in divorce that are solved simply by equitable distribution, a will allows you to make decisions about how your assets will be distributed among your spouse, children, and other people in your life. If you choose not to have a will created, a specialized attorney will be appointed to divide your assets after you pass.
You Decide Who Will Care for Your Minor Children
If any of your children are minors at the time of your death, a will allows you to make decisions regarding who will care for them in the event of your passing. In other words, a will allows you to keep your children in the hands of people with whom you feel they will be safe and well cared for.
Make Gifts or Donations
If your family has a few historical heirlooms that you would like to donate to a local museum, a will allows you to do so. In fact, you can even make donations to charity from your possessions. Not only does this present an opportunity to help those in need, making gifts can prevent feuding within the family.
Nothing Is Set in Stone
One of the best things about having a will is that you can change it if life circumstances require. If you file a divorce case and are no longer with your spouse, your attorney can help you change whatever portion of the will that pertained to their part in your life. Just as life is subject to change, so is a will.
Having a will does not mean that you are simply ready to pass away. Rather, it means that you are prepared to provide for your family in the event that anything does happen.