REST IN PEACE: SIX REASONS NOT TO DIE WITHOUT A WILL
1. If You Don’t Have a Will, Your Assets May NOT Go to the People You Want Them To. If you do not have a will, the intestate laws in your state will determine who gets your assets.
2. If You Don’t Have a Will, You Will NOT be Able to Choose Who Will be the Personal Representative of Your Estate. The personal representative (also known as the "executor") is the person who works with the attorney to settle your estate. When a person dies without a will, the law provides that the personal representative is to be chosen by a majority of the heirs. For feuding families, this could obviously be a real nightmare.
3. If You Have Minor Children, by Having a Will You Are Able to Nominate the Guardian of Your Children if Both Parents Pass Away. The guardian acts as the parent for your children in all respects.
4. Without a Will, You Won’t Have a Convenient Way to Dispose of Your Personal Property. The Statutes allow you to refer in your will to a separate handwritten list disposing of your personal property such as cars, guns, jewelry and automobiles.
5. When You Create Your Will, You Also Create Other Important Related Documents. When we do a will for clients, we also do three other important related documents: 1) a Living Will wherein you ask that you not be kept alive by artificial means, and 2) a Health Care Surrogate wherein you appoint someone to make health care decisions for you if you are not able to, and 3) a Financial Power of Attorney wherein you appoint someone to pay your bills and manage your financial affairs if you are not able to.
6. With a Will, You Can Provide for Who Gets Your Pets and Set Aside Some Money for Their Care. Pets are an important part of many families. You may provide for their care when you pass away.
COMMONLY ASKED QUESTIONS REGARDING WILLS
I have a will that was written in another state. Do I need a new one if I move to a new state? The law generally provides that, if your will was legally valid when you executed it in the other state, it is valid in your new state, even if the legal requirements are different for the two states.
Does having a will avoid probate? No. Whether or not you have a will has nothing to do with avoiding probate. The will only directs what happens to those assets that go through probate.
Do I have to leave something to my adult child? No, you have no legal obligation to leave anything to your adult child. You can omit your adult child if you want to.