Why is it important to create your will?

Life is full of surprises. One day you could be working your normal job, and the next day you win the lottery and never have to work again. Some days you will be able to go on a fun vacation with your family, and while on the vacation you could get into a car accident and pass away. This sounds a little grim, however, it is the unfortunate truth! When that day comes, will you be prepared?

Most people work their whole life and accumulate a set of assets, whether that be fixed, intangible, or current (liquid) assets, but what happens to them after that person passes away? That should be up to them to decide. It only makes sense to make sure their money and assets go where they want them to go, after working their whole life to build up their possessions. This is the primary reason to write a will. Your possessions go directly where they want them to go. Without one, it is up to the state law to determine where they end up, but are most likely go to your closest relative, such as a spouse or children.

Will & Estate Planning Attorney

Another big reason to create a will is to ensure that you choose who handles your properties. If a person does not sign an executor (or a personal representative), the state provide one on their behalf. The benefit of having your own representative, is simply because you can leave someone behind that you can trust. They are then in charge of closing down your estate and make sure everyone receives what was promised.

Appointing an executor is an essential step to handling an estate, but what about the other valuable people in their life? Another key reason to creating a will is to be in charge of who will be the guardian of their children when they pass away. They would most likely be put to their closest family, but it should be up to the parent to decide where they go! Not only is it important to pick their guardian, but it is also important to select someone to manage their future properties if they are not old enough to inherit them. Selecting the right property manager could maintain the value of the property and make it a livable space for when they are able to move in.

In the end, don’t leave property and money up for chance. Make sure to create a will to secure the future for your kids and your property that you have worked all of your life for.

Need legal help? Or help writing a will? Contact the Law Offices of Nick J. Del Pizzo today to schedule an appointment – Call 410-288-5788

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