Do you have an updated Last Will and Testament?
Having a will is perhaps one of the most important things you can do for yourself and your family. A will can legally protect your spouse, children, and assets. It can also spell out exactly how you would like things handled after your passing. In addition, having a will can help your family avoid unnecessary court time and cost in the future.
Preparing a will allows you to decide how and when your estate will be distributed. Without a will, your family is forced to work through the court system. Often court battles turn into unpleasant family feuds that in-turn cause long-lasting damage.
Deciding who will take care of your minor children is one of the most important decisions that needs to be made. Without a will, the court will attempt to place the children with whom they feel is the most appropriate fit. Having a will allows you to select the person you want to raise your children.
Naming an executor of the will is critical and needs to be done carefully. Executors make sure all your affairs are in order, including handling court matters, paying off bills, canceling your credit cards, and notifying the bank and other business establishments. Because executors play the biggest role in the administration of your estate, you’ll want to be sure to appoint someone who is honest, trustworthy, and organized. If you do not specify the executor in your will, the court will appoint one for you.
A lesser known fact about wills is that you can actually name an individual that you would like to disinherit. Yes, you may wish to disinherit individuals who may otherwise inherit your estate if you die without a will. Because wills specifically outline how you would like your estate distributed, absent a will your estate may end up on the wrong hands or in the hands of someone you did not intend (such as an ex-spouse with whom you had a bitter divorce).
A good reason for having a will is that you can change it at any time while you’re still alive. Life changes, such as births, deaths, and divorce, can create situations where changing your will becomes necessary. Making changes to an existing will is easy and inexpensive.
Don’t wait any longer, call us today to setup an appointment (810) 653-4373. We can get your legal affairs in order quickly!