Whether you are single or married with a house full of kids and a dog, you need a last will and testament. A vital component of estate planning, the document gives you control over distributing assets and protecting your legacy. If you have been putting off this responsibility, here are a few reasons why you should draft one.
Why Include a Will When Estate Planning
1. Identify Assets
Preparing a will requires taking inventory of your assets, something you should do periodically. The document is a vehicle for distributing personal items as well as intangibles, such as digital files and intellectual property rights.
2. Name Beneficiaries
A will is a vital instrument for naming beneficiaries of your estate, such as friends, family members, charities, religious organizations, and educational institutions. Without a will, state law determines who receives your property.
3. Provide for Children
Parents use wills to name guardians for their kids, as well as adult children with special needs. Doing so avoids state-initiated guardianship proceedings. By creating testamentary trusts in wills, parents provide funds for their children’s care and support. They can also name trustees to handle assets until their little ones mature.
4. Care for Pets
People use wills to name caretakers for their pets. Estate planning lawyers also assist individuals in writing up documents that dictate finances for animal care.
5. Name an Executor
Estate planning and will drafting includes naming a personal representative, the individual responsible for carrying out the document’s instructions. Individuals can list people they trust, rather than have state-appointed representatives later.
Signing a well-drafted will gives you peace of mind and eliminates the likelihood of family disputes after you pass. With over 120 years of combined experience, the estate planning attorneys at The Law Offices of Bromm, Lindahl, Freeman-Caddy & Lausterer in Wahoo, NE, ensure your wishes are expressed clearly and effectively. Their lawyers have earned an AV® Preeminent™ rating, the highest level a law firm can achieve from Martindale-Hubbell. Visit the website to learn more about their team and call (402) 443-3225 today to schedule a consultation.