The Importance of Having a Last Will & Testament
A lot of people avoid it because it means you have to consider what will happen upon your death, but having a Last Will & Testament is so important. If you do not have a Last Will & Testament, you will not be in control of what happens to your assets upon your passing and you could leave your family to deal with a mess. Having a Will drawn up allows you to be in control of who will receive your assets upon your passing. If you do not have a Will when you die, the law will determine who will receive your property. The Will also allows for you to name who will be in charge of administering your Estate upon your passing, including paying your debts, collecting any assets owed to you, and distributing any of your property. If you do not have a Will, the Court will make the decision of who will administer your Estate without your input.
Having a Last Will & Testament also allows you to put protections into place for your children in the event that they are younger at the time of your passing. In your Will, you are able to name a Guardian of your minor children, as well as put protections into place for the property that your children will be receiving if they are at a young age at the time of your passing. Without a Will, if you pass away and your children are younger, then there is a whole other process through the Court that has to take place to ensure that your small children do not inherit your property until they reach a certain age.
A Last Will & Testament gives your loved ones simple and very direct guidance as to your wishes, and makes things much easier for them upon your passing. Your Last Will & Testament can also help alleviate tension between family members because if your wishes are drawn up and are clear to your loved ones, then there is nothing to argue about or cause conflict about between your family.
If you need a Last Will & Testament drawn up, contact us at Kane & Crowell, PLLC at www.kane-law.com or by phone at (615) 784-4800.