A will is an incredibly important document for people who have full-time jobs, no matter their age. It becomes an even more important document when you get married, have children, acquire property and more. Wills can be edited to reflect major life changes, so don’t get worried that your first will is the final word. So, why should I create a will?
If you have children, you should create a will to appoint a guardian for them should something happen to you. Should you pass away without a will, the state will assign a guardian for your children and it might be someone you don’t trust. Only a parent knows their children best. A will can protect children and place them with the right guardian.
A will helps determine where your assets will go upon death. Maybe there is a piece of land you own that you’d like to see left to a nephew or even a friend. Maybe you want to leave a ring from your college days to your daughter. If you have retirement accounts, savings accounts and other assets, you can select who will be the beneficiary of them in the will.
You can also protect your business in a will. You can make sure it passes to your children, your spouse or anyone else you choose. If you discuss it ahead of time, you can leave your share of the business to your business partners. A business can only move to a second and third generation if you protect it in a will prior to your death.
If you have enjoyed making donations to charity during your lifetime, you can ensure a donation is made to your favorite charity upon death with a will.
Last, but not least, a will makes a very difficult situation for your family a little bit easier to handle. Your will should outline how you want to be buried or cremated, and answer pretty much any other question a family member might have.
As you can see, a will is a very important document. Talk with a family law attorney in Salem, Massachusetts, today.
Source: FindLaw, “Massachusetts Wills Laws,” accessed April 24, 2017