A will is a crucial legal document that allows you to decide how your estate is managed after you're gone. It grants you the power to determine who you want to inherit, how your property and assets are divided, and what type of legacy you leave. But when is the right time to start drawing up a will? Below are three indicators to keep in mind. 

A Timeline for Creating a Will 

1. When You've Gone Through a Major Life Event

Marriages, divorces, births, deaths…these are the milestones by which we live our lives. If you've recently undergone such a milestone or one is on the horizon, it's time to consider writing a will. You want it and other estate planning documents to reflect your life as it is in the present moment and to protect the people closest to you. 

2. When Fortunes Have Changed

If you've recently gotten a raise, received an inheritance, or experienced any other type of financial windfall, a will implements certain safeguards for the effective management of these funds in the event of your death. Conversely, if you have lost money or work, you want to make certain your loved ones are provided for in your will. Wills and estate plans deal principally with money matters, so if your financial affairs have changed, either for better or for worse, think about writing a will.

3. When Starting a Business

You can use your will to establish the future of your business. If you want the enterprise to continue after your death, make specific provisions for how tasks should be handled after you're gone. You can cover who succeeds you in the role of owner and operator and define your vision of the business’s future.

Whenever you're ready to start writing a will, trust the attorneys at Pater, Pater & Halverson Since 1889, they have represented Hamilton, OH, in a variety of legal practice areas. Call (513) 867-1411, visit their website, or contact them on Facebook or Google+ to make an appointment today.