No individual knows how long they have on this planet. Life is unpredictable, and while no one wants to die, it is inevitable. While people have little control over their time in this world, they can determine and have control over their estate. Too many people neglect their wills because they dislike thinking about their demise, but it is necessary. There are at least seven reasons to create a will.
- Reduce Family Quibbles
Family fighting is never fun, but it is especially troubling after the death of a loved one. Do not make survival more difficult for those you love by forcing them to determine how your estate is divided.
- Determine the Future of Your Estate
What grand plans did you have for your estate, property and finances? Did you want to help someone through school? Did you want your home to stay in the family? A will allows you to make those wishes known.
- Reduce the Risk of a Lengthy Probate Process
When you write a will, it makes the court’s job easier. A will eliminates the questions of how your assets get divided. Therefore, the probate process becomes streamlined.
- Determine Child Custody
If you have children, you should absolutely have a will in place. You do not want your kids to go to a foster home while the court determines custody. Pick guardians for your children and have discussions with the people you choose, so there are no surprises.
- Pick an Executor
Every estate needs an executor, someone to manage the distribution of assets. If you do not choose this person, then the court will. You want to pick a person you trust, someone you know will abide by your wishes.
- Give to Charities and Support Interests
If you do not make your last wishes known through a will, then your family may not give any money to charities or interest groups you support. By adding these organizations to your will, you can determine the portions of your estate that go to these groups.
- Select Beneficiaries
You have the right to choose who benefits from your passing. If there is someone you do not want to get your money or a piece of your assets, then you can choose not to include them in your will. However, without a will, there is no telling what may happen.