While it’s not the most pleasant thing to do, the heartache that a will may save your loved ones down the road should make the preparation a little bit easier. Wills are legal documents that set forth your desires regarding your property distribution to your loved ones after you are gone. Although you may not feel like you have a lot of property to distribute, having a will makes certain that your wishes with the personal and real property that you do have are not overlooked, and it may actually save your family some heartbreak and discourse.
Even when there is an oral understanding and agreement on how you want your property divided, children and pets cared for, and money dispersed, it may not happen the way that you have planned if you don’t have a valid will. Sadly, the distribution of property has broken up the steadiest of families, especially when they believed that an oral agreement was binding. If you have any of the following, it is a good idea to plan ahead so that your family is taken care of in the event of your death:
Intangible property such as bonds, stocks, and other business ownership;
If you die before you have executed a valid will, your assets will be divided according to the law, not according to your wishes. Remember, where there is a will, there is a way to make sure that your wishes are granted after you are gone.
If you have not yet done so, you should talk to an experienced attorney today about your estate plan.