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Reasons You Should Establish a Will Right Now

Estate planning is not something that many people like to think about; however, it’s a necessary step to take. If you don’t have a proper will set in place by the time you die, your wishes may not be carried out and the government will have to make decisions for you.

Here are several important reasons why you should make a will:

Decide Who Will Receive Your Assets

Whether it’s a vacation home or a family heirloom, you should be able to decide who receives your assets after you’re gone. If you don’t have a will in place, the state will determine who gets your belongings based on their generic laws. For example, the state may likely split your belongings between your next of kin, spouse, and kids. You might want to pass on your belongings to close friends or other people who aren’t related to you, though. Establishing a will helps you do that.

Appoint a Guardian for Your Children

If you have children who are minors, you definitely want to ensure they are taken care of should you die suddenly. You want the person caring for your children to be someone you trust. You want this person to share your same values on parenting, education, and even religion. If you have a will in place, you have the opportunity to appoint the guardian you want to look over your children. Without a will, the state will appoint a guardian for your children. This person might not be someone you would have approved of taking care of your kids.

Provide for a Charity

Are you passionate about a certain charity? Whether it’s a charity that helps children with cancer or homeless pets, you can give back the charity in your will. Your assets can be used for a good cause.

Reduce Stress from Your Family

Losing a loved one is always difficult. When the deceased doesn’t have a proper will in place, it can make the process even more stressful for family members. If you establish a will, you can set aside money for funeral and burial costs, lessening the burden on your loved ones.

Hiring an Estate Planning Lawyer

If you’re ready to make a will, it’s a good idea to speak to an experienced estate planning lawyer. A will is a very complex legal document and not something you want to establish on your own. An estate planning lawyer, like an estate planning lawyer in Prussia, PA, can help you make a valid will that includes all of your wishes.

Thanks to Klenk Law for their insight into why it is important to establish a will.