There are many of us who keep putting off making a Will. While there may be millions of reasons to put off making your Will, there are a few very sensible reasons why you shouldn't wait:
1. Research shows two out of two people die. Failure to make a Will may add stress, heartache, and expenses to your loved ones. A Will is instead a good way of making sure that your hard-earned money, and other assets are distributed to those you care about, instead of the State making the decision for you.
2. State laws do not always recognize long term relationships when it comes to inheritance rights. It could mean that in the event of your passing, your money and valuables might be taken away from your partner, and distributed to others.
3. A Will allows you to name the person you intend to have care for your children, in the event that you pass away while they are still minors. This can help to avoid lengthy court disputes and prevent your children from having to go to temporary housing.
4. A Will can address your memorial preferences, whether you would like to be buried or cremated, and if you would like a personal service. Through memorial planning, you can even make arrangements to pre-pay for expenses so your family does not have to.
Strangely enough, most people put off making their Will until they are much older. As a result of this, many have died unprotected. Without a Will, they did not plan for distribution of assets, who would care for their loved ones, and even where they would be buried. This is a painful burden placed on friends and family, who are likely still mourning their loss.
If you are interested in learning more about Wills and other forms of Estate Planning, please contact our office for a free consultation.