Estate planning is never an easy subject. Thinking about what happens after you are gone is not often a subject people want to think about. Even so, estate planning and will creation is something that everyone should do.
People are so opposed to estate planning that 60% of Americans do not have a will at all. With so few people having a will, it is not likely that many people know what should go in a will. Here are three things that every will should address:
This inclusion is especially important for parents of young children. A will allows parents to choose who they want to look after their children if both parents should pass away. Without a guardianship, the state will be in charge of designating a guardian, and they may choose someone you may disapprove of.
When you pass on, your loved ones will inevitably begin to divide your assets among themselves. Without a will, the state will handle the probate process, and they may allocate your assets to someone you would never have picked. Thankfully, you can take time now to decide who gets what and also keep your friends and family from fighting over your estate.
Health care directive
A will allows you to remove any question about what your wishes are. If there ever comes a time that injury or illness keeps you from acting on your own behalf, a health care directive can uphold your wishes. You can specify your wishes toward how long you want to stay on life support, what surgeries or procedures you are against, and if you’re going to be an organ donor.
Keep your loved ones from guessing
When you do not answer the big questions while you have the chance, you risk other people making the wrong decision for you. Let a will speak for you when you no longer can. Now is the best time to draft a will, so speak with an estate planning attorney to get one set up today.