Writing a will is one of the most important steps you can take, protecting both your loved ones and the wealth you’ve built after you’re gone. Unfortunately, some common misunderstandings about wills could leave your estate vulnerable to legal challenges and may even result in your belongings going to family members you don’t even know. Below are some common myths estate planning attorneys often hear about these crucial legal instruments.

3 Common Misunderstandings About Wills

1. Only the Wealthy Need to Write a Will

Everyone has important belongings they wish to leave to specific loved ones, even if you’re not especially wealthy. If you have a vehicle, a savings account, or just items of sentimental value, writing a will ensures that they go to the people you choose. An estate planning attorney can evaluate your finances and help identify those you should pass on through a will.

2. Your Verbal Wishes Are Enough

No matter how often you’ve told your family how you want your assets divided after death, the only way to ensure your wishes are respected is to write a will. Otherwise, your estate will be divided according to your state’s laws, without respect to the relationships you actually cultivated during your life.

3. Young People Don’t Need to Write a Will

Accidents and serious illnesses can happen at any time. Even if you’re young and in relatively good health, writing a will guarantees that your wishes are respected if the unthinkable happens. Parents of young children should also see an estate planning attorney, who will help nominate a guardian if something happens to both parents.

Writing a will can be a difficult process, requiring you to contemplate a variety of scenarios most people would rather not think about. For over 80 years, the estate planning attorneys at Cronin Skilton & Skilton, P.L.L.C have helped families throughout Nashua and Charles City, IA protect their loved ones and their assets. Visit their website for more on their estate planning services and call (641) 435-2462 to schedule a consultation at their office in Nashua. To speak to an attorney in Charles City, call (641) 228-3318.