Reasons to Have a Will in Place
The are few certainties in life, but dying is unfortunately one of them. For many families, death can take them by complete surprise, while some may be a little bit more prepared. What comes after a loved one’s passing is never easy, but having a will in place can make the mourning process go a little easier.
It does not matter what age you are when you begin thinking about creating a will. A will is exactly what a young family needs to ensure finances and assets are in the proper order for the future of a surviving spouse or child.
For grandparents or older Florida residents, a will needs to be in place so everything you worked for in life goes to the right person or people after your passing.
What is a Will?
A will gives instructions on what to do with the property, assets, and money you have accumulated during your lifetime after your death. A will can also name the guardians who will look after your children, decide how a debt will be paid, and can name someone to look after a pet.
A will cannot only pass on your assets, money, and property to loved ones, but it can prevent those items from going to unintended places.
Think Things Through
Parents who create a will can think of it as putting their ‘ducks in a row’ for their children. A will can secure a child’s future. Experts say it is important to think everything through before you put it in writing, however. A hastily thought out will can cause future problems for children.
You are Never too Young
One of the misconceptions about creating a will is that they are only for older people. That could not be further from the truth. Death can come at any time, and plenty of young parents leave this world too soon. Therefore, having a will in place can ensure that the future is secure for your spouse and children, even after you are gone.
Experts report that millennials are not creating wills, which is putting their families’ futures in great risk. According to some studies, 92% of Americans under the age of 35 do not have a will.
What is a Living Will?
A living will gives you the opportunity to set out what will happen if you become sick and cannot communicate. A living will can be helpful if family members cannot cope with the stress of making major health decisions. A living will can also prevent family conflicts from occurring. Family members may otherwise fight over what to do when a loved one becomes ill.
Power of attorney gives another person the legal right to act on your behalf. It can relieve family and loved ones from the burden of decision making when you are ill. However, make sure you know exactly what you are getting into when going down that road. Power of attorney does not always work out for the good. In a recent story from Seattle, Washington, a man was sent to prison for using power of attorney to steal his mother’s estate.
Lulich Legal Attorneys and Consultants
If you or a loved is interested in creating a will, Lulich Legal Attorneys and Consultants can help. Visit our page on wills to see how we can help you. Lulich Legal Attorneys and Consultants can help you prepare for your family’s future.