Every August is National Make-A-Will month and if you don’t have a will, consider creating one. According to LexisNexis, approximately 55% of people in the United States do not have a will. Taking the time to make your own will allows you to determine what happens to your assets and belongings. Some of the reasons for making a will include choosing someone to carry out your wishes in the will, identifying someone as a legal guardian for your child in the event of your death and stipulating where your property should go. If you do not currently have a will, consider contacting the lawyers of Bratton Law who can help you design a will that works best for you.
Often people think they have plenty of time to create a will, but what happens when someone dies without a will? This situation is called being “intestate,” and this means that without a will, the state will determine who will be in charge of the distribution of your estate. Your spouse could be the one chosen, or if you are not married, your adult children may be selected. There could be tax ramifications that could have been avoided if you had made a will. One of the biggest concerns of dying without a will is the possibility that if you die without any living relatives, the state will receive your assets. In this case, you will have been robbed of the chance of leaving a legacy.
Making a will is not time-consuming with the help of an attorney. Think carefully about the person you want to be in charge of distributing your assets—this will be your executor. You will also need to choose what property to include in your will and your beneficiaries. It will be essential to select guardians for your children and to plan on how you would like to provide for them.
If you already have a will, remember you may need to update it to change beneficiaries or include additional assets. This is an easy task once you have a will, and an attorney can help guide you for making the best decisions for your estate.
Making a will does not take much time with the guidance of an experienced law firm. This could be one of the last gifts you give to your family and makes your wishes clear to those you love. Without a will, your family will need to work through your assets and try to determine what you would have wanted. Make your last wishes easy to follow. Consult with an attorney at Bratton Law.