The Importance of Having a Will
There is no bad time to create a will. While thinking about your own mortality can be a bit jolting, writing a will is an important part of being an adult for several reasons.
It Protects Your Children
If you have children, you have probably considered what would happen to them in the unfortunate event that you died. When you create a will, you have the option to name a legal guardian or guardians for your children in the event of your passing. In many cases, this will be a family member or close friend. No matter who you choose, be sure you speak to them beforehand.
It Protects Your Pets
Even if you donâ€™t have children, you may have other lives depending on you. An increasing number of people are writing wills that include information about how a pet should be cared for if its owner passes. Not only can you name a guardian for your pet, but you can leave money for that guardian to care for him or her.
You Decide Who Handles Your Affairs
When someone passes away without a will, the duty of taking care of the personâ€™s estate falls upon the next of kin. Unfortunately, that person isnâ€™t always the best one for the job. By creating a will, you decide who executes it. Be sure to choose someone you trust.
In addition to a traditional will, you may consider writing a living will. To learn more about the process, call The Law Offices of Michael Lily at 870-935-2400.