Benefits of Having a Will

A will is a legal document that details how you wish your assets and property to be divided and distributed after your death. Drafting a will is advantageous for anyone with assets they wish to protect or loved ones they want to ensure are financially secure in the future. There are many benefits to drafting a will, some of which include:

• A will protects your assets and property from probate and intestacy laws. Without a valid will in place, your assets and property will be distributed according to your state’s probate laws, which may or may not be how you would have chosen to divide and gift your assets. Furthermore, there tends to be a lot of obstacles and problems with probate, so it’s best to simply avoid the need to go to probate court all together.
• A will gives you the control to name your beneficiaries and determine who you would like to gift your property to.
• A will gives you the control to decide who you want executing the will. This executor of the will is the person responsible for making sure your assets and property are divided and distributed according to the terms you laid out in your will. As you can imagine, being able to chose who you want to serve this role is quite comforting.
• A will  will save your loved ones from having to go to probate court, which is not only a headache in and of itself, but it can also be very costly and time consuming.
• Compared to a trust a will is much less expensive to create, maintain, and implement.
• After creating a will, you will have peace of mind knowing your assets are protected and your loved ones will be taken care of when you are no longer here.
• A will will save you from paying more inheritance tax than necessary.
• If you are not married, but are in a committed relationship or domestic partnership, you can ensure your partner is provided for.

These are just some of the many benefits to drafting a will. An experienced estate planning attorney can provide you with more information if you are interested in learning more about the value of having a will in place. Click here to find a family law attorney near you who has experience in wills and estate planning.