The Benefits of Writing a Will
Many people put off writing a Will because they believe it will be costly or difficult, that it is unnecessary because their possessions will automatically pass to their spouse or children, or simply to avoid thinking about their own death. But writing a Will is actually a simple process, and free services such as doyourownwill.com are available to guide you through the process step by step.
Writing a Will is critically important for all adults regardless of wealth, marital status, or age.
A Will allows you to:
1. Ensure that your possessions will be distributed as you wish.
If you die without a Will, the law decides how your estate will be distributed. Although some property will automatically be passed to a spouse or children, exact distribution depends on the value of the property and the terms of title deeds. A Will is the only way to ensure that your wishes will be carried out.
2. Appoint and outline powers of an Executor and/or Trustee.
Writing a Will allows you to decide who will oversee and manage distribution of your estate. Designating a trustworthy and impartial Executor provides peace of mind that the terms of your Will will be honored.
3. Appoint a guardian for minor children.
Your Will serves as the legal guiding document for care of minor children in the event of the death of both parents.
4. Specify funeral wishes.
Specifying your funeral wishes in your Will reduces stress for loved ones and ensures your body will treated in the way you desire (e.g. burial vs. cremation).
5. Expedite the legal process.
It is generally faster and less costly to settle an estate with a valid Will. Reducing legal fees protects the value of your property and savings to be passed to beneficiaries.
6. Reduce stress and heartache for loved ones.
A Will that clearly outlines your wishes for funeral arrangements and property distribution will reduce confusion and family disagreements during a stressful and emotionally difficult time.
Last Will and Testament
Distribute your property, name guardians, and appoint an executor.
Durable Power of Attorney
Appoint someone to communicate your decisions if you can't.