A will is one of the most basic and important estate planning documents. If you’re just getting started with your estate planning, you may be considering implementing a will into your plan. However, you may be unsure of the benefits of a will.
Take a look at the information below to learn more. If you have additional questions or if you’d like to create a will, contact an estate planning attorney.
What is a will?
A will is a legal document that allows you to appoint a guardian for the care of your minor child after your death, decide how your assets will be distributed after your death, and choose who will settle your estate.
What happens if I don’t have a will?
If you don’t have a will, your wishes likely will not be followed. Your state’s laws will determine how your assets are distributed. This means the wrong people may be given your belongings. For instance, in Kentucky, your children may receive much of your property instead of your spouse.
In addition, you won’t have a say in the guardian for your children and the executor of your estate. These are important roles and responsibilities and you should take the time to make the important choices.
How do I create a will?
While you can legally create a will on your own, it’s a good idea to work with an attorney. Your attorney will be able to guide you through your decisions as well as give you valuable legal advice.
If you’ve been thinking about creating a will, now is the time to do so. You want to make sure that you’re always prepared. If you have any questions about the process, or if you’re ready to create you will, consult with a qualified estate planning attorney.
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