Why you REALLY need a Will

June 22nd, 2020

If you have kids, you know what it feels like to be so protective of someone, you would literally do ANYTHING to make sure they are taken care of, happy, and healthy.

Most parents know if it came down to it, they would die for their kids, but what happens to their kids AFTER you die.

Now that you are no longer there to protect them, do you know where they will end up? Who will be the ones to protect them now? Will they get any of your assets?

Unless you have a  Last Will And Testament, there is no way you can answer those questions with certainty.

 

I know, it’s really depressing to think about dying. But the hard truth is, no one lives forever, and you don’t know when your time on this earth will be up!

So let’s start with the basics. What is a Last Will And Testament anyway?

 

A will is basically a legal document listing out your wishes in the event of your death. Think of it as insurance for your assets. What happens to those thousands of dollars you managed to save over your lifetime? If you know who you want to receive that money, it needs to go into a will.

You can also use a will to name guardians for your children. Who do you want your kids to live with? Grandparents? Aunts, Uncles? Maybe an older sibling who is a legal adult? Write it in a will.

So what happens if you DON’T have a will?

Thanks for asking this VERY important question. If you die and you do not have a will, intestate succession laws determine who will receive your assets and how they will be divided. Meaning, if you don’t tell people what you want, the law decides for you. If you do not have a will and you have no surviving relatives, your assets go to the state instead of your best friend Betsy.

If you have kids and do not have a will, the courts will also decide where the child will go.

Having a will also prevents family members having to go to probate court to decide who gets what. I know Thanksgiving dinners can be exhausting with the inevitable arguments, but think about how awkward it would be if your brother and your sister both believe they should get the lion’s share of your assets.

Now if you’re thinking drawing up a will is a hassle and will require time and money you don’t have, consider the situations named in this article. Ask yourself, what do you want to be your legacy? If you’re ready to start drafting today, click on the contact page and let’s set up a time to chat!