There is a laundry list of reasons you should have a will, but if none come to mind here are seven of them to get the ball rolling:
- If you have minor children, you will want to appoint a Guardian in the event that you and your spouse are no longer alive to raise the children.
- If you are single, then you need to specify who will be making decisions on your behalf and where you want your assets to be distributed. There is no default spousal appointment for you to rely on.
- If you own a house, a car, a bank account or other investments, large or small, making decisions on how they will be used and distributed is key.
- If you want to have control, a will allows you to take charge and prevent potential disagreements over personal belongings or other assets amongst beneficiaries.
- If you want to save money, having a will may allow your estate to save thousands on costly court bonds or other mandatory items when someone passes away without one.
A will can be your starting place for other estate planning decisions and communications.
Start thinking and take action to get your decisions in place today.