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A recent survey shows a whopping 68% of American adults don’t have a will. Having a will is undeniably one of the most important things you can do while you’re alive. A will not only help legally protect your loved ones and assets but also communicate how you would want things handled after you die. Unfortunately, most people spend their lives working and investing to ensure a secure future for their families, yet many pass away without leaving a will.
Passing away without a will means that you leave important decisions about your property and assets in the hands of the courts and state officials. This can lead to family strife, which can last even for a lifetime. However, you can make a fully legal will in minutes using online self-help tools like The Postage and secure your estate as well as protect your children after you die. In this article, we’ll look at some important reasons you should have a will:
1. You alleviate the Burden for your loved ones
Almost all estates must pass the probate process, which oversees the distribution of assets. When you die without a will, the court decides who will administer your estate and how to distribute it, which can be expensive, time-consuming, and contentious for your family.
Having a will helps streamline the court process and informs the court of the person you’d like to handle your estate and how you would want your assets distributed. That makes the probate process easier and faster, reducing the burden and stress for your loved ones once you’re gone. This also ensures you appoint someone you trust to wrap up your affairs and administer your will.
2. You Choose Who Gets Your Estate and Who Does Not
A will lets you determine how you would want your assets and property distributed upon you passing away. By naming the beneficiaries, you decide who gets your assets and how much. You can also indicate beneficiaries for your assets not listed in the will. Your chosen executor will determine how to distribute these assets to the named beneficiaries.
You can also use your will to ensure your assets don’t get in the hands of the individuals you don’t want. For instance, you can prevent an estranged relative or ex-spouse from getting any of your assets by indicating in the will. This can help secure the future financial security of your loved ones and also keep your assets out of the wrong hands.
When you die without a will, the court gets to determine the distribution of your assets. That includes deciding who gets what and how much. Your intended desire may not be fulfilled in such a case, and family disputes regarding your estate are more likely to occur.
3. You Decide Who Will Raise Your Minor Children
The most important reason why you should have a will is to nominate a guardian for your minor kids. Once you’re gone, your chosen guardian will be the one to take care of your kid’s daily needs such as housing, food, education, healthcare, and clothing. Having a will allows you to appoint someone you trust to raise your kids in the event of your passing. If you don’t leave a will, the state will choose a guardian for you, either a family member or a third party. The problem is that your kids may end up being raised by someone you would not have chosen.
Endnote
From determining who will take care of your kids to eliminating potential family disputes after you’re gone, there are many reasons why it’s crucial to have a will. It’s now easier than ever to create a will. You can make your own will in minutes, download it, and have it notarized using online self-help tools.
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