If you have given thought about the end of your life, you may have wondered if you really need to have a will. For people who do not have a lot of assets to bequeath, it may seem like an unnecessary headache to have a will made. There are some very good reasons to have a will. Here are just three.
Give to Your Loved Ones
Everyone has prized possessions, even if they do not have a lot of monetary value. When you are gone, you want to go with the peace of mind that the individuals you want to have your personal belongings get them. If there is any question that someone might not know who gets what, or that someone will contest allowing a child or grandchild from taking what you want to be theirs, you should have a will to outline everything so that there are no arguments or confusion at the time of the event.
Even if you don’t have a lot of assets, you probably still have some bank accounts and other investments in your name. You will need to assign the money in these accounts to a beneficiary in your will. Otherwise, your death could tie up the funds in probate court for months or even years, depending on the situation. If you want your loved ones to have access to your funds immediately, you need to have a will.
Dispose of Property
Most people at least own a home, a car, or both. If you have any real or personal property such as this, you will need to have a will that designates the new owner. You can also require in your will that the property be sold and the money given to a particular individual or organization.
If you are planning your end of life, having a will is the best way to protect your family and your assets in the case of your death. Contact us today to learn more or to schedule an initial consultation.