Does Everyone Really Need a Will?
Most people should have a last will and testament in place. This legal document is especially important for married people with children or those who possess lots of assets. However, the document can also be beneficial to people with few assets, as it ensures the funds and property they do possess are distributed to loved ones as they see fit after they die.
Additionally, age is irrelevant when it comes to will creation. While many young people think they can put off estate planning, the truth is that the unthinkable can happen at any time. By taking care of the matter now, you can rest assured that your family will be protected after you’re gone.
What Happens When You Die Without a Will in Place?
Dying without a will means that you will be intestate, which can lead to numerous complications among your family and loved ones. Dying intestate requires the court to make decisions about your assets on your behalf. The court will make these decisions according to state laws, which may not be in line with your wishes.
For instance, if you have children from a previous marriage that you wish to leave assets to, dying without a will can leave them without access to money and property. It can also lead to conflicts among your family members, which can make an already sad situation far worse.
What Are Some Tips to Help with Will Creation?
It’s best to get help with will creation to ensure the document is legally binding. Along with specifying your wishes pertaining to asset distribution, a will must meet pertinent laws and standards. These laws vary from state to state, but an attorney will ensure that the document reflects the legal conditions relevant to Chandler, AZ.
You must also review your will on occasion to ensure it still meets your needs. For instance, you’ll need to revise your will after the birth of a new child. You’ll also need to make updates if you open a new business or receive a large sum of money. If you fail to update the will, the court will ultimately decide what happens to any assets that are not included.