Introduction to Importance
Preparing a will is something that most people do not consider? Why do I even need a will? What do I put in a will? I don’t own anything, do I still need a will? When it comes to considering your life, unfortunately, death is a part of that natural process. It takes responsibility to ensure that even after your life has ended on Earth, your loved ones are not continuing to carry a burden.
Creating a will can help to properly distribute your estate, as well as provide instructions for any debt incurred or guardianship necessary for any descendants. Your own will can prevent the state from getting involved directly with your estate and distributing by that state’s laws. State laws may not account for any unseen or unaccountable relationships and will most likely go to next of kin starting with children. A will can be the saving grace for your family after your departure from their presence.
Should I Create a Will?
To simply answer the question of whether or not a will is necessary, yes you should have a will! A simple will can be free to create, but you should be sure that it will hold up in your state. Different states have various laws on the creation and validation of a will. Ideally, the state makes a determination for how they think you would allocate your estate, assuming spouse and/or children would come first. If neither of those is an option, the search would extend to siblings and potentially cousins.
Because the state does not have the time to consider the complexity of your everyday relationships, creating a will ensures that your estate is divided in the way that you wish it. Only you have the ability to account for your relationships and how they may affect the way you spread your estate. Ultimately, some states may have certain laws that have to be abided by within your will, but most states allow the flexibility of you to distribute your property the way you want. If you choose not to create a will, in the event of your unfortunate passing, your property will be subject to a process through state legislation.
There are various types of wills and the complexity of them can vary depending on the nature of your estate. A simple will is a will in which you distribute all of your estates outright. If you are preparing a future for your children by creating trusts, a testamentary trust will be the right option for you.
A revocable living trust is also an option that keeps your family out of court on the back end. This particular option provides you a little more flexibility in life to expand your will as you continue to grow. If you are like most middle-class workers, you may have a retirement fund or life insurance policies in which you designate a beneficiary. In these cases, your estate will would not be applicable to changing these already determining beneficiaries and therefore have no control over the designation of those funds.
When it comes to writing a will, especially if you have a complex estate, consulting a professional could be the best option for you. In some cases, a will can be accepted with the proper notarizations, but an attorney can best advise you on the laws within your states or any state(s) in which you hold property or a will.
A Los Angeles estate law firm can be a great professional resource when considering the preparation of your will. Unfortunately, most people automatically assume professional help is unbearably expensive, but that is not always the case. You can get services for nearly nothing, but you can also pay thousands of dollars. It all depends on your needs.
Get Started Today
As our world continues to evolve around us, especially with new viruses upon us each day, creating a will has become almost more necessary now than ever before. Ensure that your loved ones are taken care of in the way that you want them, without state intervention. Create a will now and have your own peace of mind for the future. Protect the ones you love most today.