A recent study estimated that over 50% of people in America die without having a Will. Most people don’t recognize the importance of having a properly drafted Last Will, doing so ensures your wishes are honored after your passing. It provides a clear roadmap for how your assets, such as property, finances, and personal items, should be distributed. This clarity can prevent family disputes and confusion and offer a sense of security during an already difficult time. Without a will, the state will decide how your estate is handled, which may not align with your intentions.
But a well-crafted Will goes beyond just the transfer of your assets. It can allow you to do the following:
· Appoint guardians for minor children, ensuring that your children are cared for by someone you trust.
· Make provisions for charitable donations, leaving behind a legacy of values.
· Utilize well-designed trusts to protect your assets from future creditors of your spouse or children
· Ensure that children from a prior marriage receive the property you want them to have
· Protect your digital assets, like airline miles, emails, purchased movies and music, and more.
Some people think they can handwrite out a Will and have it easily take care of everything, but handwritten Wills (also known as holographic Wills) are usually poorly drafted and may not even be valid depending on the wording and execution. Don’t chance having your estate plan go awry. Let Howell Legacy Planning help by providing you with a properly drafted Will that addresses all your estate planning needs.