Estate planning is not only for the rich and famous. Anyone, regardless of the number of assets they have, can benefit from having a will in place, especially since a will can do far more than simply distribute your property according to your wishes. If you have minor children, pets you care dearly for, or simply wish to disinherit certain family members, a will can help you address all of these needs.
Understanding What a Will Can Do
Creating a will is one of the most responsible things you can do for your family. They will have enough to deal with in the aftermath of your death, so the last thing you want is for them to haggle over the assets and property you leave behind. With this useful document in place, you will not have to worry about a fight erupting among your family in your absence, which can afford you some peace of mind.
Here are some other benefits of having a will:
- Your beneficiaries can forego a long probate process: A will cannot circumvent the probate process altogether, but it can speed it up since it informs the court of your wishes. If you were to pass away without a will, the court would have to decide how to divide your assets, which can take a substantial amount of time.
- You can name a guardian for your minor children: If your children are minors at the time of your death and you do not have a will, the court will have to choose a guardian for them. Naming a guardian in your will can ensure the person of your choosing will care for them when you are gone.
- You can choose to disinherit certain individuals who might otherwise inherit: Without a will, there are certain family members who stand to inherit your assets and property whom you might wish to exclude. With a will, you can ensure certain individuals will not inherit any of your estate.
- You can name a caretaker for your pet: Your pet likely means a lot to you and you probably hope someone will care for it after you are gone. To guarantee your animal friend does not end up in a bad situation, name a caretaker in your will. You can also set aside some of your assets to cover the expenses of caring for your pet.
- You can protect your family's future: None of us know when we will die. Instead of gambling with the future, create a will to safeguard it. You will rest easier knowing that your family’s future is taken care of.
Reach Out to an Estate Planning Attorney Today!
If you do not already have a will, there is no time like the present to get started on making one. Otherwise, your family will find themselves in an unfortunate predicament after your passing. At Drexler Law, our estate planning attorneys can assist you in creating a will that addresses your needs and goals.
Contact our law office today at (719) 259-0050 to set up a consultation with a member of our team.