A will is something many of us know we need but aren’t sure why. And because death isn’t exactly a pleasant topic, people often make the mistake of ignoring the importance of a will altogether. Instead of avoiding the issue, it’s important to take control of your estate planning and make sure your family is taken care of when you have passed away. Here are 5 important reasons you need a will.
Make Sure Your Children Are Cared For
One of the most important reasons for a will is to ensure your children are cared for after you pass away. This includes determining who will be the guardian of your children to ensuring that they have the funds and resources to live on when you are gone. Fortunately for pet lovers, a will can also be a helpful tool for ensuring that your pets are cared for as well.
Help Organize and Place Information in One Spot
A will can also give you a base for organizing your belongings and assets for your friends and family members when you have passed away. Without a will, it can be difficult finding the information they need, which can lead to spending much more time and resources on tracking everything down. Without a will, your loved ones might miss or overlook property or assets.
Naming Who Will Manage Your Estate
A will also allows you to name an executor or personal representative that you trust to manage your estate. This person will be in charge of organizing your estate and ensuring that your wishes are carried out according to your terms. Who you choose to manage your estate is up to you.
To Decide Who Gets Your Property
This is especially important if you want any of your assets to go to a person or organization who is not your next of kin. If you don’t have a will, your belongings will most likely go to your immediate family members, which isn’t always the intention of the deceased.
Save Money in Estate Taxes
Having a will not only helps your loved ones avoid the probate process, which can be expensive, but it can also help them to save money on estate taxes. This is because the value of the property that you give to friends, family members, or charity will reduce the value of your estate, which means you pay less at tax time.
Contact the Attorneys of Beller & Bustamante, P.L., Today
Thinking about what happens to your property after you die isn’t pleasant. However, when you consider the many important reasons to have a will, it’s worth taking care of as soon as possible. Don’t make the mistake of leaving your possessions and your wishes after you die in the wrong hands.
The attorneys at Beller & Bustamante, P.L., have the knowledge and experience you need to create your ideal estate plan. To schedule a consultation, call us today at 904-288-4414 or use our online contact form to set up an appointment.