When is the Right Time to Draft a Will?
Creating a Will
Creating a will is something that is not at the forefront of many people’s minds. This document though is very important if you have accumulated assets during your lifetime. Popular misconception makes many people think that they need to be rich to create a will, but this is not the case. You might be surprised at all of the assets you have built up over time and just how much they may be worth. A wills lawyer can go over the drafting of a will with you and help to secure your assets for generations to come.
When is the Right Time?
Once you begin to have assets and are starting to profit from your salaries, this is the time that it is wise to begin your will. Numerous individuals wait until they reach old age to make a will and many others put it off for so long that they never even get around to it. This is not the smartest of things to do as the entire process could be made much easier for your loved ones if you decide upon your estate before an expected or unexpected passing. When an estate goes to court things can get messy for a family and all of its extended members. Create your will and make things easier for your family as well as for you. You will have the power to give what to whom you please.
Passing Away Without a Will
When someone passes away without having a will in place, this means that their assets, finances, and possessions will become intestate. Your assets may have to go to court to determine who will receive them upon your passing. Different parameters exist if you die without a will and have descendants that your estate could be passed on to. However, if you have no will in place in Rhode Island and also no family members, then your entire estate will return to the state of Rhode Island.
Contact a Wills Lawyer
You can rest assured that the wealth and assets you have acquired over time will be in safe hands when you make a will. You have the power to choose who gets what from your estate and also who to give guardianship of your children to if you have them. Contact an experienced wills lawyer today to begin drafting your will and securing your assets.