You may wonder if you really need to have a will in place. With few exceptions, the answer to this question is a resounding yes, especially if you plan to pass away owning a home, vehicle, or other possessions. The truth is well over half of adult Americans do not have a valid will in place, which means that all those assets will most likely be distributed without taking the deceased’s final wishes into account.
You should have a valid last will and testament if you want to:
- Make things simple for your loved ones to inherit your assets and designate who benefits from your estate after you die.
- Potentially minimize or avoid federal estate tax when you die.
- Control who your executor will be to oversee the distribution of your estate to your loved ones.
- Choose who raises your minor children, if you were to die while your children are still young.
- Make certain that your child’s inheritance is divorce-proof with inclusion of a testamentary trust.
- Take advantage of a simplified probate procedure that can save your heirs time, effort and money after you die.
As you can see, having a will in place ensures that your assets are taken care according to your final wishes. Your will provides specific instructions on how items are distributed after your death.
Instead of having no will, contact the Law Firm of Ryan S. McBride today to start the process of preparing your will. We offer a free consultation to all prospective clients.
Contact us today at 504-256-1705 or fill out our online form.