The Importance of Preparing a Will
Death is a part of life, and proper estate planning is critical for giving yourself piece of mind and ensuring the security of your legacy. Preparing a will is a legal way to express how you want your real estate, personal property, and other assets to be distributed after you die. When you prepare a will you can make important decisions such as naming the person who will be responsible for administering your estate and carrying out your final wishes (known as your “executor” or “personal representative”).
A will also gives you the ability to name your “beneficiaries” (the people who will receive your property and assets when you pass away). You can even set terms and conditions for how and when your beneficiaries will inherit your assets. A will can also help you protect your children if you pass away. If you have minor children, you can use your will to nominate a legal guardian to be responsible for their care.
Without a will, the future of your estate and your children’s care is in the hands of the court, not you.
A Will Does Not Protect Your Estate from Probate
Although wills are an important part of estate planning, they do not protect your family and property from probate. Probate proceedings involve informing a court of your death, an appraisal of your property and assets, an investigation to determine the validity of your will, and paying off your remaining debts and taxes.
The process is time-consuming, exhaustive, and expensive — court costs and related fees, in some jurisdictions, can be a percentage of your net worth. Probate records are also public documents, which means much of your assets and the terms of your will can be viewed by non-beneficiaries.
If you wish to avoid probate proceedings, there are estate planning alternatives that may be a better choice for you.
Click here to learn how we can help you avoid probate by preparing a living trust.
The Document People Can Help You Prepare Your Will
The Document People can help you prepare a will that accomplishes all of your estate planning goals without the expense of hiring an attorney. With our package you will be able to express all your wishes and breathe easy about tomorrow.
It’s never too early to start!
Contact us today for pricing and additional information.