WILLS AND TRUSTS

Why a Will Should Be First Up in the New Year

With the New Year upon us, many people are making and trying to stick to their New Year’s resolutions. Something that should be on your resolution list—and everyone’s for that matter—is to make a will. However, many people continue to put off drafting a will, not wanting to believe they’ll ever need one. However, death comes for us all eventually. It’s far better for our loved ones if we prepare now.

The first thing you should do in the coming year is sit down with an attorney to set up a will. Let’s look at some of the most important reasons to get create a will.

It’s Better for Your Loved Ones

Your family and friends will be grieving when you pass away. They need time to grieve and to understand their loss rather than worrying about what will happen with your estate. You want to take as many variables and questions off the table as possible. Having a proper will drawn up will reduce the amount of stress on your family, and it can reduce the risk of family squabbles and altercations.

You Get to Determine Who Gets Assets and Property

Even if you haven’t put it in writing, there is a good chance that you already know where you want your assets and property to go. You know where you want it to go when you die. If you die without a will, though, you don’t get to make these choices. It ends up being in the hands of the court, which could make decisions you don’t agree with. The wrong people could end up with your property.

Ensure Your Children Will Be Cared For

If you have minor children, you want them to have the proper care in the event that you pass away. Typically, the surviving parent will have custody of the kids, but if both parents die, what happens? With a will, you can assign a guardian, who will be responsible for taking care of the children’s needs. If you don’t choose a guardian, the court will choose one, which means you might have someone raising your kids that you wouldn’t have picked.

These are just some of the top reasons that creating a will needs to be done sooner rather than later. The New Year is the perfect time to take care of planning your estate, so be sure to get in touch with an attorney who is well-versed in wills and trusts. The sooner you act, the sooner you will have peace of mind.

Bell & Shah

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