According to recent data, only 46% of American adults have written a will. While it may not seem entirely urgent to draw up a will right now, it’s something you should not put off much longer.
Indeed, you never know when you’re going to go, and if you leave this world without a will, you are leaving your assets and surviving kin unprepared. No matter how old you are, you can benefit from writing a will.
To see how this can be advantageous for you, keep reading below.
1. It Allows You to Choose
When you write a will, you are giving yourself the opportunity to choose what happens to all of your assets when you are no longer here to take care of them. Leaving without a will means that legislation will take care of the process, and you won’t have any say on who gets what.
While many assume their spouse or partner would inherit everything directly, here, this is not always the case. Sometimes, children or even distant relatives would get part of your assets.
If you want to choose who will manage your estate and who will receive your property, it’s essential to make a will sooner rather than later.
2. It Is Less Expensive
If you choose not to create a will, it could end up costing your family or inheritors more money.
Writing a will allows you to manage estate taxes and inheritance taxes. You have the opportunity to try to lower these taxes as much as possible while you’re still alive, so take it.
Along with this, if you don’t write a will or update your will in time to include an executor, an executor will have to be appointed by the court to deal with the administration of your assets.
If the executor is not your spouse, then they must be insured, which will cost more money and delay the distribution of your estate and assets.
3. It Provides Protection for Your Children
When you think of the importance of a will, your thoughts may automatically drift towards your children. If you have children that are minors, it’s essential that you have a plan in place in case the worst occurs for both parents.
Appointing a guardian that you trust can give you peace of mind knowing that, no matter what happens, your children will be completely taken care of.
Don’t Wait, Write a Will Today
When you write a will, you essentially take control of what happens after you leave this life. This is your chance to take care of your family and friends, and choose what happens to all of your belongings.
Tomorrow is not guaranteed, so don’t wait. If you want to reap the benefits of a will, write it today.
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