Despite what you may have heard, everyone can benefit from having a will. Damaging rumors such as wills only being necessary for the wealthy or the elderly are becoming increasingly prevalent and prevent people from making wise estate planning decisions to secure their best interests in the unfortunate event of their passing. The truth is, everyone can benefit from having a will and we have collected some of the most compelling arguments for why you should get a will as soon as possible.
One of the most important uses for your will is to appoint guardians for your children. Without an expression of your clear, formal wishes your children may end up in the hands of someone less than capable. Don’t let the courts make such a vital decision in your children’s lives without your input.
Appoint The Executor Of Your Estate
In your will you can also declare who will fill another important position, the executor of your estate. The responsibility endowed on this individual is immense and being able to choose the executor yourself will enable you to ensure they are familiar enough with how you wanted your assets distributed. Seeing to the efficient allocation of your assets will also spare your family from the devastation of arguing over who gets what.
Control Your Assets
While there are default inheritance laws dictating how assets should be divided in the event someone passes away without a will, these default laws likely won’t be ideal to your specific situation. Why would you accept the most generalized approach to something as important as estate planning? With a will you can personalize the distribution of your estate to account for any number of personal factors.
By utilizing a trust in conjunction with your will you can decrease the amount your loved ones will have to pay in estate taxes. That means by creating a will you can ensure they get as many resources as possible to help them through their grief.
Convinced that you need a will? Now all that you need is a knowledgeable team that will work with you to devise the perfect will. At Morgan Legal Group we pride ourselves on our commitment to every customer and will work tirelessly to come up with a personalized will that fully incorporates all of your wishes. We can’t wait to get started.