We thought it would be helpful to go over the basics of a will and why everyone needs one.
A will is a legal document that allows you to determine how your estate will be handled upon your death. Although everyone dies eventually, and every estate will have to be distributed at some point in the future, not everyone has a will in place or plans for what will happen to their estate at the time of their death. In fact, according to LexisNexis, over 50% of Americans do not have a will or other estate plan in place.
Some people avoid the topic because they think they are too young to need a will or do not want to incur the expense of creating an estate plan. Others simply do not want to have to think about their own mortality. However, without a will, there is no way to guarantee that your desires will be carried out after your death.
There are four main reasons why having a will is beneficial:
- Having a will allows you to have control over who administers your estate after you die.
- Having a will allows you to designate a guardian for your minor children in the event of your death.
- Having a will allows you to decide how and to whom your property and belongings will be distributed.
- Having a will allows you to alleviate the strain on family members after your death.
By preparing a will, family arguments over how to divide an inheritance can be avoided, and the time required to deal with the probate process can be shortened – making the process easier and quicker for your family, which will make their lives a little easier during what will otherwise be a difficult time.
The Harris Firm recommends that every individual have a standard Will package. This includes the following:
- Last Will and Testament
- Health Care Power of Attorney
- Durable Power of Attorney
- Directive to Physicians (Living Will)
Our attorneys can help create a Will package that meets your needs and provides the care, protection, and peace of mind for your family that you desire. All Will and/or Estate Planning documents should be reviewed and updated periodically, especially after a major life event such as a marriage, divorce, or birth of a child occurs.
The Harris Firm, P.C. has experience in helping folks with wills and probate planning. Please give us a call and make an appointment – whether you need to create your first Will package – or if you have existing will and estate planning documents, we can provide assistance in updating those documents to reflect your new desires. Let Harris Handle It!
