For childless single adults and couples, wills are important tools in the basic estate-planning toolbox. Contrary to popular belief, these legal documents are not just for seniors with kids and grandchildren. Use the information below to understand their value and learn how to start preparing one.

Why Childless Individuals & Couples Need Wills

Benefits of a Last Testament

One advantage is you decide who receives which assets, when they receive them, and what or how much they receive when you pass away. These provisions also ensure that someone you trust is put in charge of carrying out the instructions. Without a will, state probate laws determine who receives property from the estate, and a judge chooses the person who collects and distributes that property.

Tips for Starting a Will

Writing a list of assets is a good way to begin making a plan for your estate. Include items such as family heirlooms, valuable collections, trademark rights, royalties, and digital assets. In deciding who should receive your property, consider relatives, close friends, religious organizations, charities, and educational institutions. Gather full names, addresses, and other pieces of contact information to identify clearly to whom you intend to bequeath possessions. Consider which individual you trust to carry out your wishes and name them as executor. Choose an alternate or two in case the first choice is unable or unwilling to serve.

Lance S. Cox, Attorney at Law, offers individuals, couples, and business owners in-depth advice and skilled representation in wills, estate planning, tax preparation, and probate matters throughout Greater Cincinnati, OH. With more than 30 years of experience helping people understand the intricate laws that affect their financial decisions, this compassionate attorney is well-equipped to assist you. Visit the firm’s website to learn more about their services and call (513) 528-6000 to schedule a consultation.