A will provides direction and clarity for your family when you pass away, regardless of your net worth. We all eventually die, and having a will makes a big difference in ensuring a smooth transition.
Why I Need a Will
If you have a will, your property and assets will be distributed according to your wishes. If not, the state governs who gets your stuff after you die. If you fall into any of the following categories, having a will is really a must.
- You’re married. In most cases, your spouse will get your assets when you die, but that’s not always the outcome. It’s important to put their name in writing to ensure they are the recipient. The same is true if you want anyone else to receive your assets.
- If you have kids, you need a will to make sure they get what you leave behind. It’s important to put their names down in writing.
- You need to name an executor of your estate and a guardian for your children. The executor will distribute your assets, while the guardian is responsible for raising your children.
- You have a positive net worth. When assets are doled out after you die, the process will be much easier if you have a will or trust in place.
- If you’re young, single, and don’t have valuable assets, you can temporarily hold off on a will. However, you will need one when your financial situation improves.
What Happens When You Die Without a Will
This is called “dying intestate.” In this case, state law governs who gets your property and assets. If you have no will, there’s no guarantee your spouse, children, or anyone else will get your stuff.
We Can Help
With proper preparation, a Will can be designed to support your family’s needs and concerns. The Law Offices of Todd Cushner & Associates can help. Contact us today for a free Will planning consultation.
