It’s essential to write a will as it helps your loved ones understand your wishes after you pass. Take the time now to write it down.
Life is always changing and moving forward, and because of this it’s so important to write a will. It’s not a fun topic to think about, but it’s an essential part of being human and will save a lot of stress on your family in the case of an unexpected death.
Still on the fence about writing one? Here are five reasons why it’s essential to have a will.
Who Gets What
The basic goal of a will is to decide who gets what stuff when you pass away, making it easier for your family members. You’ll save many arguments and confusion if it’s all written down for them.
Take Care of Your Kids
If you have children under the age of 18, it’s a great idea to write up a will to secure their options. If there isn’t a will, important decisions, like who their legal guardian is, will be left to lawyers, judges, and other family members.
Make Gifts and Donations
Is there a charity or organization you’re passionate about, but don’t want to donate to right now? Write any donations you want to make in your will, monetary or otherwise, so those handling your estate know what to do.
Protecting a Business
If you’re a business owner, make sure you put in your will who will get the company. Lack of estate planning can cause the business to fizzle out or end up in the wrong hands.
Save on Estate Taxes
Federal and state taxes will be taken out of your fortune no matter what you do, but you can minimize how much they get. Add directions in your will about what gifts you want to give to individuals or place money in trust funds.