As we grow older, we start to think more about our legacy and what we will leave behind. While it’s not a topic many of us like to dwell upon, it’s important to have a plan in place for when we pass away. One essential part of that plan is having a will. If you or a loved one is in the latter years of adulthood, it’s important to understand why having a will is so critical.

First and foremost, a will ensures that your assets are distributed according to your wishes. If you die without a will, your assets will be distributed according to state law. This means that your assets may not be distributed in the way that you would have wanted. Additionally, when a person dies without a will, family members may argue over who should receive certain assets. Having a will in place can help to minimize or eliminate this type of conflict. With a will, your wishes are clear, and family members are less likely to have contention over your assets.

In addition to distributing assets, a will can also help to provide for your loved ones after you pass away. For example, if you have young children, you can use your will to designate a guardian for them. You can also use your will to establish a trust to provide for your children’s education and other needs. Many young adults create a will, but it’s important to note that a will is not necessarily a one-time document. As your life changes, your will should be updated to reflect those changes. For example, if you get married or divorced, become widowed, or have children or grandchildren, you may need to update your will to reflect those changes.

If you or a loved one does not have a will in place, now is the time to start the process. Working with an estate planning attorney can help streamline the process, reduce overall costs by minimizing taxes and other expenses associated with settling an estate, and ensure your desires align on paper. There are also many resources available online to help you create a will. However, it’s important to note that DIY wills may not provide the same level of protection as those created with the guidance of an attorney. A qualified attorney can help ensure that your will meets all legal requirements and will be enforceable in court.

While it may not be a pleasant topic to think about for many of us, having a will in place can provide peace of mind and protection for you and your loved ones.

INFORMATIONAL PURPOSES ONLY: The materials and information on this website have been prepared or assembled by the Community and are intended for informational purposes only. The information is general in nature and is not intended to be, and should not be relied upon as, legal advice. Some of the information may be out-of-date and may not reflect the most current legal developments regarding wills. This website contains information on legal issues and is not a substitute for legal advice from a qualified attorney licensed in the appropriate jurisdiction. Creating a valid will and other estate planning documents that carry out your wishes can be a complicated process, and the Community urges you to consult an estate planning attorney licensed to practice in your jurisdiction to help you navigate these issues. The Community expressly disclaims all liability with respect to actions taken or not taken based on information contained or missing from this website.