Estate Planning Lawyer
A will is an important document for your family’s future. Here are six benefits of having a will.
1. You decide who takes care of your minor children.
Without a will, the court will choose a family member to be the guardian of your children. If you have a spouse, you may not be concerned. However, consider what happens if your spouse dies at the same time. Maybe you’re divorced and want to appoint someone to manage your children’s inheritance. Your will tells the court your wishes.
2. A will is the outline for your estate.
If you don’t have a will, the court decides who inherits your estate. If you wanted to give a donation to charity, the probate court wouldn’t know that. If you aren’t married, your domestic partner may not be able to inherit anything that you’ve worked for together. Your will also minimizes family fights over your estate.
3. You decide who manages your estate.
In your will, you name an executor who handles the estate after your death. This person plays a huge role in the administration of the estate. Appointing an honest and organized person to do this for you can make it easier on your family.
4. Your will lets you give gifts.
Your estate may include more people than just your immediate family. If you have an important family friend to whom you want to give a valuable item, a will gives you the credence to do so. You can decide how your money is distributed instead of leaving it up to a judge. Your legacy lives on based on your values and interests.
5. Your will avoids legal challenges.
When you die without a will, the courts determine who inherits your estate. The laws that outline who inherits your estate may not be the same people you intended to inherit. If you have estranged family members who fall in the line of inheritance, a will lets you leave those people out. Of course, they can always challenge the will, you can’t change their behavior. A will lets you tell the court who you want to inherit your belongings.
6. A will benefits your family because tomorrow isn’t promised.
You don’t know when your life will end. It’s difficult to think about your own mortality, but you need to think about your family if something happens to you. A will makes it easier on your beneficiaries when they’re already dealing with a great amount of stress.
Talk to an estate planning lawyer, like an estate planning lawyer in Arlington, TX, to help you with your final wishes. You can always change your will if your circumstances change.
Thanks to Brandy Austin Law Firm, PLLC for their insight into some of the benefits of having a will.