No grieving family member should have to sort through a legal mess after their loved one passes away.
For this reason, it’s never too early to start thinking about a will and plan for your estate. In fact, when you’re young and healthy is the best time to do it. This will ease worries and uncertainties about what will happen to your children, pets and other possessions after you pass away.
There are many reasons why creating a will is necessary and important. Here are just a few:
Your funeral can be planned
Leaving behind too many decisions for grieving family members in planning your funeral is very stressful. In a will, you can actually designate how you would like your funeral conducted, if you want to be buried or cremated, and any other details you desire.
Your children can be taken care of
If you’re like most people, your children are the biggest concern. If you or your spouse (or both) were to suddenly pass away, who would raise them? Wouldn’t you like the be the one to make this decision? This is not a decision that should be made lightly and both parties should be in complete agreement about what’s in the best interest of the kids.
You control your assets
If you want to be the one to control how your assets are disbursed, it’s necessary to have a will that specifically states who will receive your possessions and how much.
For some people with heavy assets, a will may not be enough.
According to Money-Guy.com:
“The purpose of a trust is to ensure any assets you leave your family are being used how you intended them to be used. Additionally, trusts can remain private and don’t have to go through probate, which simplifies the process and makes it less painful for your family.”
According to Dave Ramsey, 70 percent of Americans die without a will. A will is the best gift you can leave your family. If you desire, seek a professional estate planning attorney to help you create a will.