Importance of Making Your Will Right Away Not many people plan for what happens to their estate while they are still in good health. If you are someone with considerable wealth and properties and advancing in age, you would do well to start thinking about what will happen to your estate in the event of […]
Importance of Making Your Will Right Away
Not many people plan for what happens to their estate while they are still in good health. If you are someone with considerable wealth and properties and advancing in age, you would do well to start thinking about what will happen to your estate in the event of your death. Death is certain but its timing is uncertain, and so it pays to be prepared for this. The day of your death will never be known to you or anyone else, and even young people die every day. This is the reason why it is important to call an estate attorney now in preparation for this event. Here are other reasons why calling an estate attorney is only for the best.
Many times we expect family squabbles over inheritance when a loved one departs, and this is the effect of movies we watch or novels we read. Surely, this is not the type of scenario you would want your family to face. Taking legal action against each other over inheritance is something you wouldn’t want to happen to them. When the time comes, this will surely happen, if you have not prepared for its eventuality. By court order there can be access to the deceased’s funds depending on the size of the estate. Your loved ones can grieve properly on losing you, if you have left them with a will and testament to easily settle your estate.
You need to appoint a guardian by law for your children under 18. If there is no such appointment, it is the court who will decide on who will take care of your children. The closest member of the family with the best financial position will usually be assigned by the court as guardian in absence of a direct assignment and a knowledge of how relationships are in your family. You might know of a better person to be the guardian of your children, and this is not necessarily a family member. And this is the reason why, as early as now, you need to appoint whom you want to be your young children’s guardian. Appointing a guardian should be near the top of the checklist for settling an estate.
If there is no will your family is bound to fight over their inheritance. Who will get what should be determined and disclosed to your estate attorney. This will prevent families from taking legal actions against each other.
Discuss your will with an estate attorney even before you fall ill. If you wait until you are sick, it will add unnecessary stress to your weak condition. If you have prepared your will beforehand, you will have great peace of mind when the time of illness comes, to know that you have prepared your estate to be handed down to your loved ones in a fair manner.