When it comes to your estate, you should have a plan. That’s where a will comes in handy. A last will and testament is a legal document that states how you want your assets distributed after you pass away. It’s also important to have a will because it ensures that your loved ones and the causes you care most about are taken care of.
There are many reasons why you may need one, but here are 4 compelling reasons to get one today.
You may need a will for one of these reasons:
You would like to have a portion of your estate donated to charity
You have children who are not old enough to take care of themselves.
You own property that you wish to leave to your spouse, partner, or other family members.
You want to avoid making your loved ones undergo a lengthy court process to determine your wishes (known as probate)
The last will and testament is an important document that ensures your estate is properly distributed according to what you want, with the help of the person or people you designate as executor. It also ensures that any minor children are taken care of properly. If you don’t have a will, laws in your state dictate how your property is distributed upon your death. Not only does this take away some control from you, but it can also lead to hurt feelings among family members if someone feels they were slighted by their inheritance compared to someone else in the family. This is why it is so important to have a will made up before anything happens.
If you die without a will, state laws will dictate how your assets are distributed. For example, if you have children from different marriages, the law could dictate that assets go to the spouse who brought the most assets to the marriage. If you have no spouse, your assets could be divided equally among your children or given to certain family members in a specific order. This type of distribution might not be what you would want for your family.
If you die without a will, the courts will decide how your assets are distributed. The thing about the courts is that they don’t always do as you would have liked them to. They can be unpredictable and costly. In some cases, it may even take years before a decision is made. With a last will and testament, you can designate who gets what and name an executor to carry out your wishes.
One of the most important reasons to have a will is to make your beneficiaries happy. It’s imperative that you designate who should become the executor and who will get what. You should also designate guardians for any children who may be under 18 at the time of your death. Furthermore, the person you designate as executor can take care of everything so that there are no problems or disputes with regard to finances, estate distribution, and so on.
We all have philanthropic causes that we’re passionate about and leaving a legacy is one of the most critical parts of a will. Unfortunately, it’s not guaranteed that any portion of your estate will be given to the charities or causes you care most about unless you create a will. For that reason, it’s crucial to begin writing your legacy today. At LifeLegacy we’ve made it simple, convenient, and most importantly free to begin writing your legacy with a completely free will.
Begin creating your legacy today with a free will to protect the people and causes you care most about with LifeLegacy.
Get started writing your legacy with a free will
Planned giving can be one of the most powerful things a donor can do for a nonprofit and one of the proudest achievements a nonprofit organization can have.
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