Most people delay creating a will because they believe there is still plenty of time to spare. However, it’s imperative to do so in case a tragic accident occur, especially if you have children. If something happens to you, who would you want taking care of them? Who do you want to have your property and assets?
No matter what stage of life you’re in, the following are seven reasons why it’s important to make a will today:
- You can decide who will care for your children until they reach a legal age. You also have the power to determine how they will be financially supported through their lives. Discuss this with potential guardians and trustees.
- You have specific things which you want certain people to have. A will ensures that your requests are fulfilled. It’s important to find a person who you trust to execute your orders and make sure your wishes are met.
- There are certain people you do not what to have inherit your things. You may lose touch with certain family members in your life and don’t want them to inherit from your estate. Always keep you will updated to ensure you wishes are fulfilled.
- A will makes everything go smoothly for your family. If you believe your family may dispute or fight for everything you own, comprise a significantly detailed will to make your intentions clear.
- A will can help reduce taxes. A highly comprehensive estate plan can curtail taxes owed to the government.
- You can specify wishes related to prolonging your life. If a tragic accident has occurred to you, you can state the measures you want doctors to take in order to save your life, including being kept alive on respirators or having the family decide when to end care.
- You have the peace of mind to know your family is going to be covered and protected.
For more information about creating a will, contact our The Woodlands estate planning attorney to schedule your consultation.