Do you ever stop and think about what might happen to your assets after you die? It’s not often a pleasant thought, but it’s still important to consider. Having a will can help make sure that your possessions are distributed according to your wishes and provide some peace of mind that they’ll be taken care of the way you’d want them to be. In this blog post, we’ll answer the question: do I need a will? We’ll look at why having one is important, who needs one and when it should be created. Read on for expert tips and advice on how to create a comprehensive will and ensure your final wishes are met.
What is a Will?
Now we know a will is important, but what exactly is it? A will is a legal document that states who will receive your property and possessions after you die. It can also include instructions on how to manage any ongoing financial obligations or investments you might have, such as making sure your children’s college funds are taken care of or ensuring the maintenance of any real estate properties you own.
Why You Need a Will
Having a will makes sure that all of your wishes will be fulfilled after you’ve passed away and removes any guesswork for those who are left behind. Without one, the court will decide who will inherit your property and assets instead of leaving it up to you. This could lead to possessions being divided in ways that don’t reflect your wishes, so it’s essential to have a will in place.
Who Should Create a Will?
Generally speaking, anyone over the age of 18 who owns any property or has dependents should create a will. This includes parents with young children as well as those with grown children and grandchildren. Even if you don’t own any property or have any assets to pass on, having a will can ensure that your final wishes are followed after you’re gone.
When Should You Create a Will?
As soon as possible! Life is unpredictable, and it’s best to be prepared for anything that comes your way. Creating a will sooner rather than later will help provide peace of mind knowing that all of your possessions will be taken care of in the way that you intended.
Tips for Creating a Will
Creating a will doesn’t have to be a long, drawn-out process. Here are some tips for creating an effective will:
- Have a lawyer draft your will. Having an experienced professional help, you write up the will and ensure that everything is legally sound and will be honoured by the court when needed.
- Make sure all of your wishes are clearly stated in the will. Include who will receive which possessions, and make sure any financial obligations or investments have clear instructions on how they should be handled.
- Consider making changes to your will as life events occur, such as getting married, having children, buying property or any other significant life changes that could affect how you want your assets distributed after you pass away.
- Choose an executor, which will be the person responsible for carrying out your wishes after you’re gone.
- Store the will in a safe place and make sure your family or executor knows where it is.
Creating a will doesn’t have to be overwhelming or complicated; with the right attorney, it can be an easy process. Lamprey Law can help you create a will that accurately reflects your wishes and will stand up in court when necessary. With the proper will in place, you’ll rest easy knowing that all of your possessions will be distributed as you intended after you’re gone. Contact us today to learn more about creating a will and how we can help you get started.