Many people die without taking the time to create a will or trust. Wills and trusts are powerful estate planning documents that allows individuals to be in control of the future. It’s important to consider the use of these documents, so that you can plan ahead. If you don’t take the time to plan, your wishes may not be respected. Take a look at the following 4 reasons as to why you don’t want to die without a will or trust. If you have any questions, or if you’d like to begin drafting you will or trust, meet with an experienced and qualified estate planning attorney.
- You won’t be able to protect your children. In your will, YOU get to appoint a guardian for the care of your minor children. Without this document in place, the court makes this choice for you. You likely want to make sure that you have control over who will care for your children in the future.
- You’re unable to appoint an executor or trustee. Your executor or trustee will handle all of your estate affairs and will deal with many of your personal and private issues. You likely want to make sure that you’re the one who chooses this individual. With no will or trust, the court will decide, and this means an outsider may be handling your private affairs.
- Not taking the time to create a will or trust means that you’re unable to determine how your assets will be distributed to chosen beneficiaries. Instead, state laws will determine how your assets are divided. This may mean that your personal wishes aren’t respected. If you want to be in control of the inheritances that you leave behind, a will or trust is a must.
- Without a will or trust, you’re giving up all control. Your will or trust makes it possible for you to have a plan in place for the future. Choosing not to create a will or trust means that you’re allowing others to determine how your affairs will be handled.
Don’t put off your need for a will or trust. Take the time to consider how a will or trust can be beneficial too you. If you have any additional questions, or if you’d like to create your will or trust, consult with an experience and qualified estate planning attorney.