While an estate plan can provide a wide variety of advantages, many people never create a will. There are many reasons why a person doesn’t have a will; whether they are unaware of the benefits, believe a will wouldn’t benefit them, or don’t think about the possibility of death. However, everyone can gain something positive from having a will.
Common reasons for creating a will include:
Determining Guardianship of Minor Children
A legal guardian is responsible for caring for the needs of children until they are of legal age. Naturally, parents prefer to choose who will take on these important responsibilities in the event that they are no longer able to do so themselves. A will allows parents to name who they would like to act as the legal guardian of their children and how they would like their children cared for in their absence. Without a will, a court must make these decisions, and they may not reflect what the parents would have chosen.
Diffusing Any Potential Disagreements
Due to the emotionally charged nature of a loved one’s passing, it can be easy for family and friends to disagree over the distribution of estate assets. With a will in place, the distribution has already been taken care of and no beneficiaries need to stress over how the estate will be dispersed among surviving family members and friends.
Determining Where Assets Will Go
In addition to bequeathing certain objects and funds to specific people, a will allows a person to maintain control of all aspects of their estate. If they would like to give a certain percentage of their finances to a charity, they can name said charity in their will. Additionally, if the deceased has a family member in need of special care, they can stipulate how much of their assets they would like to go to the person in need.
Helping Our Clients Draft a Legally Sound Will
Our estate planning attorneys at Casey, Simmons & Bryant, PLLC, can assist you in creating a solid estate plan. We are knowledgeable about all factors of estate planning and can ensure your will successfully goes through the probate process.
Contact our firm online or call us at (731) 256-0023 to schedule your consultation.