Having a Last Will and Testament is crucial for ensuring that after your death everything is handled the way that you want it to be. You work all your life for a place that you call home, so it makes sense that you’d like it to go to someone you trust. Without a will, your estate is distributed according to the state laws of intestacy, which often means that the people to whom you wanted to give your property may not receive it or that it will go to someone who wouldn’t have been your first choice. Furthermore, if you have a long-term partner, but were not married at the time of death, then your partner may not receive anything. So, in order to avoid a painful situation like that, it is a good idea to hire an estate attorney to draft a will for you.
If you die without a Will and you have a big family all of your descendants will become co-owners of all the valuables that you own. This can pose difficulties for the heirs that live long distances away or even abroad. If no clear plan has been made in terms of your property and who takes care of what, it can create unnecessary expenses in traveling and maintaining the property. But by forming a clear plan, based on the distance and the involvement of everyone, you can come up with a proposal that works for everyone. It can be difficult to divide an estate, especially if it’s large in size and you have a huge family, but it can help to plan it out as much as possible. This is another good reason to hire an estate attorney to draft a will for you.
Having a will allows you to make personal plans, such as the burial service and other matters. It also might make it easier on your family, as they know exactly how you wanted everything to be. It saves a lot of planning and time, and of course, takes a toll off your loved ones. Having a will could also reduce your inheritance tax. By drafting out your will, you could avoid having your beneficiaries having to pay the tax. This is another good reason to hire an estate attorney to draft a will for you.
The biggest advantage of having a last will and testament it that a Will allows for direct distribution of your holdings. The choice is yours when it comes to the decision of who gets what. No one can change that, as your will is protected by the law. It also protects your loved ones and assures you that no one will be forgotten. It’s important to make your wishes known, and it offers peace of mind to your heir. You can even start building your will after you turn 18, especially if you have an inheritance or a trust fund. You don’t even necessarily need to hire a lawyer to start drafting up your will, but there are steps that you need to take to make sure that it’s legally binding, which would protect your testament better. This is another good reason to hire an estate attorney to draft a will for you.
It also avoids a family conflict, a death in the family can already be a painful process. Confusion in regards to the allocation of the assets, and who should get what could cause unnecessary pain. By having a will, at least you have some say in it. No one can argue with that, and perhaps everyone feels as if everything was handled fairly. Even if your holdings are not very large, a will can still be a beneficial thing for everyone. It does not have to be expensive, and if you are able to find an executor that you trust, it can be a great tool to plan out your next steps. In conclusion, make sure to hire an estate attorney to draft a will for you.