Wills are not only for the rich or for those who own a lot of property. A will can protect your children, assign guardianship, divide your assets and state your wishes.
Why Should I Make a Will?
A will is your estate planning document and it allows you to direct the distribution of your assets when you die. Without a will, your assets go to probate court and your family members may not get everything they are entitled to when you pass away. A will gives you a chance to name a guardian for your children, appoint executors and decide how your property is to be distributed. You can also leave instructions on charitable gifts. A will allows you to specify in clear, specific terms how your property should be distributed upon your death. It also determines how to pay for your funeral and burial. Do I Have to File a Will? No. A will is voluntary and not legally required. Many people do not have a will. But, if you want a new trust, you must fill out and file a will.
What’s in a Will?
A will establishes how a deceased person wants to be remembered and distributed after death. It states how property and money will be divided among heirs. It even includes what your religious beliefs mean for who will get what in the event of a burial or cremation. In some states, a will can include an inventory of your assets and property. Wills are only valid if they are executed by a competent adult. If you are too young to legally execute a will yourself, you may consult with a lawyer who specializes in estate planning. Creating a will should be an ongoing, ongoing conversation with your loved ones. Discuss your wishes at least annually. And consider using a memorial agreement. This will help make sure your wishes are being carried out after you’re gone.
How to Prepare for the Future
What should I include in my will?
The classic Will usually requires you to list all your assets, all your debts, and your wishes for your funeral and burial. However, there are many other options available for each type of estate, and those that are not listed in the will should be documented.
Where should I start?
When you create a will, you can either choose to create it through a lawyer, a paralegal, or on your own. You can choose one of those options or combine them to form a collaborative process with your family and the legal services provider. When you take the time to draft and share your will, you’ll have a system in place that will assure that you and your family have a clear understanding of your wishes when you are gone.
Making the Right Choices for Your Family
Take the time to protect your family and your assets. C4 Legal Assistance provides professional and affordable legal assistance and can help you prepare and submit the proper paperwork. Call us today at (805) 585-3828.