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What’s the Point of Getting a Will?

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estate planning attorney

When someone passes away, their assets need to be properly given to the right people. Getting a will set up is the best way to ensure that everything goes where you want it to go. Without a will, your money, property, and even children could end up in the care of someone you didn’t or wouldn’t choose. Even if you don’t have a large estate to manage, a will can help you divvy up what you do have. It allows you to remain in control of your assets even after your passing.

What Can a Will Cover?

A will can cover pretty much everything you own, and it can even include details on what should be done with your remains. A written, witnessed will can dictate what happens to everything you’re responsible for in life, including:

  • Any owned property
  • Money accounts
  • Furniture and other owned objects
  • Vehicles
  • Minor children
  • Pets

Getting a will made up ensures that all of your assets are properly taken care of as you see fit. Without one, your estate could end up with someone you wouldn’t choose and may even end up as the property of an unassociated third party.

Why You Should Have a Will

Having a will is crucial, even if you don’t have many assets to worry about. A will can benefit you and your loved ones in many ways after your passing.

Quick Inheritance

Naming your heirs in your will with a breakdown of who gets what is the best way to ensure everyone has access to your assets as soon as possible. Without a will, an estate lawyer will have to track down your next of kin and spend time figuring out how your assets will be divided. This can be a time-consuming process that delays and reduces inheritance collection for those you truly want to receive it.

Your Decision

If you don’t have a will when you pass, the courts will divide your assets among your next of kin. If you have a spouse or adult children, this process is fairly easy to do, but it isn’t always straightforward. And if you don’t have any direct relatives, the decision becomes even more complicated. As a result, getting a will allows you to name specific people and determine exactly what each person gets. This way, an estranged relative can’t show up and demand access to assets you don’t want them to get their hands on.

Your Children’s Future Secured

If you have minor children, a will can help ensure that they are taken care of. Not only can you leave parts of your estate to them for when they come of legal age, but you can also dictate who will care for them when you’re gone. Even if you don’t have an estate or any assets to worry about, you should create a will once you have children. If you don’t, your kids could end up in the care of strangers or family members that you don’t want them to be around. 

Offsetting Taxes

Money made from your estate in any capacity is subject to taxes, which can dramatically reduce the perceived inheritance for your heirs. However, you can choose to leave other assets or money to charities in your will, which helps offset this balance. Not only does this help your loved ones deal with the legalities of your will, but it also allows you to leave a mark on society with your passing as well.

How to Get a Will Made

Getting a will started is fairly easy, and you can always update it as time goes on. You’ll need to find yourself an estate lawyer who can help you organize your documents and get everything put together. While you can create and notarize a will without an estate lawyer, having one will help you in the future. An attorney will be better equipped to ensure that your wishes are acted on. They can ensure everything you’ve set up goes forward. They’ll also be able to handle any disputes or other legal issues, should they arise. 

Getting a Will at Hager Law Firm

Having a will is crucial to taking care of your loved ones and your estate. At the Hager Law Firm, we make getting a will as hassle-free as possible. Our estate planning services will help you organize your assets. We can take care of your estate and your family when you pass. It’s never too early to start a will. Give us a call at (903) 466-0001 to begin securing the future of your legacy.

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