01 Jul When To Start Writing Your Will: There’s No Time Like the Present
The trouble is, you think you have time
We completely understand: there’s nothing quite like mentioning your Last Will & Testament to kill whatever good vibes you might have for the day. In a society currently focused on the immediate, it can be difficult to plan for next week—let alone the rest of your life. However, it would be far more difficult to go without a Will at all.
What happens then?
Your Last Will & Testament is an incredibly fancy term for your last wishes: it can cover everything from who you want to take care of your children to who gets your collection of fine china. If you don’t take time out to create a Will, your estate gets divided up by the rules of Intestate Succession (the settling of your debts, posthumously). So, if you don’t want your crazy uncle Elroy taking care of your kids, you definitely want to write a Will.
Before you can begin to stress about wading through legal jargon or taking inventory of your possessions, take a deep breath. An online poll revealed that nearly 60 percent of all Americans didn’t have a Will, so you’re definitely not alone. In addition to being part of the majority, you’re also in luck: we’ve compiled a list of reasons why you need a Will, and why there’s no need to worry about making it:
Its one of the most important documents of your adult life.
For obvious reasons, your Last Will & Testament is a pretty important document. Other important papers including your Living Will—which states your wishes in the event you become incapacitated—and your Durable Power of Attorney—which states which person you trust to handle your estate if you become incapacitated. While these documents may seem like the worst way to spend a Sunday afternoon, it’s also your last chance to declare your wishes.
It doesn’t take as long as you think.
To create a binding legal document that outlines how you want your estate to be handled doesn’t take a long time. While that may seem unbelievable, most attorneys can provide an interview process that helps fill out the necessary paperwork. Once your Will is written, you’re set for life—and you can change it as many times as you wish to adjust for your life changes.
It leaves no room for assumptions.
When you do make your way out of this world, your family is going to have plenty to deal with in funeral arrangements alone. Don’t just assume that they’ll step in to take care of your assets, or that they’ll have the time to sort through your belongings. By leaving a Will, you’re making sure that your wishes are carried out.
It keeps the state out of it.
With a few exceptions regarding debt and other legal matters, leaving a Will behind prevents the state from handing everything over to your closest family member. Especially for non-traditional families, a Will can protect them against the state handing everything over to blood relatives.
Now that you have a good basis of why a Last Will & Testament is so important, when should you start?
There’s no time like today.
While you may be in good health, a cautious driver, and excellent at avoiding dangerous situations, there’s no guarantees in life beyond death and taxes. Although we can’t help as much with the taxes, we certainly know how to help you take care of your final celebration. Even in your 20s and 30s, you’re going through many major life changes—like marriages and children—that will certainly impact your Will.
Whether you’re 18 or 83, creating a Will is an important activity that should be completed quickly. This allows you plenty of time to make changes as your life changes, and ensures that your voice will be heard—long after it isn’t. For assistance crafting your own Last Will & Testament, contact us! We’d love to help you get your affairs in order.