Creating a will is probably one of the most important things you can do for you and your family! Wills legally protect your spouse, children, and your assets. Wills lay it out exactly how you would like things handled and how you want your assets passed on. The following are what we think are the top 10 reasons to have a will made. A will allows you to…
Distribute Your Estate
Your will is legally binding, so you get to decide how you want your estate to be handled after you pass. If you pass without a will, there are any guarantees that you wishes will be carried out.
Decide Who Takes Care of Your Children
Your will allows you to make decisions on who you want your children to be raised by. Without a will the court will decide who raises your children. They may decide on a family member or some other state-appointed guardian!
Avoid a Lengthy Probate Process
All estates go through probate with or without a will but having a will speeds up the process and guides the court. Without a will, probate will make decision on your estate on it’s own.
Lower Your Estate Taxes
Wills allow you to minimize your estate taxes based on how you distribute your assets to family or charity.
Decide On Who Handles Your Estate
Your will will designate executors to make sure everything is in order from paying the bills, cancelling credit cards, notifying the bank, and other creditors of the new situation.
Your will can leave people out of inheriting your assets. Maybe you want to make sure an ex-spouse doesn’t inherit a share of your estate. Maybe you have a child who wouldn’t be able to handle the assets the way you want them handled.
Make Donations and Gifts
Your will allows you to make gifts and donations that allow you provide a legacy though organizations and charities. You give gifts up to a certain limit that will be excluded from your estate tax. A lawyer who creates wills and can advise you on estate planning can really help you make donations and gifts that help your family and the organizations that you care about.
Avoid Legal Challenges
When you pass without a will, some or all of your estate may be given to someone that you wouldn’t want to have it. This is when legal challenges arise because you don’t have anything legally binding that states your will.
Change Your Will As Your Situation Changes
While you are alive, you can change your will when your situation changes. Incomes change, assets change, new babies are born, family members die, and people get divorced. Each major change in your life could be a reason to makes some changes in your will.
We never know if tomorrow will ever come because death is a part of life. Wills are a great way to show how much you care about your family so they don’t have to deal with additional stress about your estate and decisions on our children during a very stressful time. We advise that you get your will created by an attorney who can both draw up your will and help you with your estate planning on an ongoing basis.
We are committed to helping families resolve legal challenges and get back to their lives. We offer the guidance and support that you will need when you are involved with the legal system.
Contact Us (859-371-0730) for a Consultation Today
About Helmer Somers Law
Helmer Somers Law helps individuals and businesses navigate the complex system of rules that accompany all legal situations. We are licensed to practice in both Kentucky and Ohio and offers flexible, affordable payment terms for our services. We welcome the opportunity to earn your trust and become your lawyer for life! It’s a fact of life in the modern world. There comes a time for virtually every adult American when the services of a competent, dedicated lawyer are required. Circumstances such as divorce, bankruptcy, estate planning or an income tax audit demand that your rights be protected, and your long-term interests advocated for with diligence and perseverance. When you call Helmer & Somers Law, you can rest assured that they will be.