Many people have the misconception that wills are for those who are wealthy or own an excess amount of property and valuable goods. However, wills are meant for everyone and everyone, and it’s highly suggested that regardless of your monetary standing, you work with a lawyer to ensure your estate planning process goes smoothly. What are some of the reasons that writing a will is highly recommended?
Less Stress For Your Loved Ones
After you pass away, estates have to go through probate court to distribute your assets. However, if you don’t have a will, that process can be extra lengthy, complicated, expensive, and upsetting for family members involved. A personal representative must distribute out estates, as opposed to having wishes on your will be fulfilled. If you have a will, you pick the person who will handle your estate.
Overall, leaving a will creates less of a burden for your loved ones, as it takes out the guesswork of what your wishes and wants are.
Control Over Assets
By creating a will, you decide who will receive your assets as well as who will be distributing them. However, you may not know that with a will, you can also state who you don’t want receiving any of your property.
You may have an interest in doing this if you have an ex-spouse or ex-partner who you don’t want to receive any of your assets, or if you have multiple children and want to make sure all of them get an equal share of what you have. Ensuring that your inheritance doesn’t fall into the hands of those you don’t want is a large benefit of creating a will.
Leave Instructions
While it’s most likely not ideal to be thinking about your funeral, a will gives you the opportunity to leave instructions and specifications for how you want the proceeding to go. You can include information such as who you want to be the funeral executor, where you’d like the service, where you’d like to be laid to rest, and more.
You can also leave instructions in regards to what you’d like to happen with your online accounts if you have any.
Get Peace of Mind With Crosby Law Firm
Writing a will not only makes you feel like you’re taking care of everything, but it will make the process much easier for your loved ones after your passing. Without a legal document such as a will, they might be left not knowing exactly what you would want or what would best honor you.
Estate planning can be emotional and overwhelming, but Crosby Law Firm is here to make the process as streamlined and easy as possible. We will work with you to make sure you feel confident and in control of your assets and wishes. To speak with an estate planning lawyer in Rockford, IL, we encourage you to call us today.
