Whether you’re 25, 52, or 75, one of the best ways to protect your family is to have a will. No one likes to think of their mortality, but the reality is that no one knows when they are going to die. A will offers peace of mind. Here are five reasons you need a will, regardless of your age.
- Give Your Belongings to Who You Want
Your will lets you distribute your prized possessions according to your plan. You might think that no one wants your beat-up car, but without a will, that car may have to sit there until the court determines who gets the title. Maybe you have an expensive piece of jewelry from your grandma that you want a special niece to have. You can put that in your will. The more assets you own, the more you need a will.
- Donate to Your Favorite Charity
Your will is your intentions for your assets. With the right document, you can set aside a portion of your money to go to your favorite charity to carry on your legacy. You could simply tell your family you want to donate to a certain organization after your death, but they don’t have to honor that wish.
- Have a Named Executor Represent Your Wishes
In your will, you name an agent to carry out your wishes and to close your accounts. Today, it is not only bank accounts and credit cards but social media sites that may need to be dealt with. Your executor has the power to deal with all those matters.
- Avoid Delays in Probate
A probate court is a special court that deals with the estates of those who have passed on. Though your estate still goes through probate with a will, because you have an executor and the court knows your wishes, the process should go smoother and quicker than without a will. This lets your beneficiaries move on with their lives with the assets they need.
- Name a Guardian for Your Minor Children
You may assume that the child’s other parent is going to care for your children after your death, but there may be situations in which you want to make sure your children’s assets are taken care of. As well, maybe the other parent isn’t in the picture. Your will allows you to choose the person you want to take care of your children. Don’t let the court make that decision for you.