Are you among the 66 percent of Americans who don't have a valid will or estate plan? Here are 10 reasons this task is too important to delay!
If You Die Intestate, the Government Takes Over.
When you die without a will (intestate), the state will decide who gets what. It doesn't matter that you promised your classic car to your brother, or your house to your second wife—if it's not recorded in a valid will, the state makes the decision for you.
It's Not Just For Rich People.
No matter how much or how little you have, you should make a plan to disburse your assets after you pass. If you have no heirs, you can gift your assets to benefit a cause in which you believe. If you don't, the court will decide where your money goes.
It Settles Custody Disputes.
If you have children, you need to designate a legal guardian in case both parents/legal guardians die. If you don't, the court will decide for you.
It's a Source of Comfort.
Writing a valid will means you'll know your final wishes will be respected and the people and causes you care about will be looked after.
It Can Bring You and Your Spouse Closer.
Writing a will is a chance to reflect on your life together — the things you care about, the things you've accomplished, and the things you still hope to do.
It's a Way To Take Care of a Spouse, Partner, Child, Grandchild –¦
Writing a will allows you to make provisions to care for a loved one after you're gone. That can include support for the special needs of children or grandchildren, especially if they face costly illnesses or disabilities.
It Settles Family Disputes.
If you designate who gets what in a legal will, Aunt Peggy can't argue with Cousin Fred over who gets grandma's cherished chinaware set and basket collection.
You'll Ease Your Family's Grief.
If you die without a will, your family will have to untangle your affairs, guess at any gift intentions, and spend a lot of time, money, and effort in probate court while the government settles your estate.
You'll Be Able To Choose an Executor.
If you don't have a will, the court will decide who is in charge of handling your final affairs. It won't matter if you had a loved one or trusted family friend in mind, because it wasn't recorded in a legal document.
You Won't Lose Power Over Your Legacy.
If you die without a will, you'll lose the chance to invest in your own legacy by designating a gift to support your favorite causes. But if you create a will, you'll have the opportunity to have a big impact on the future of Liberty Lutheran, with no impact on your day-to-day cash flow.
