A will holds great importance in securing the future of your family, estate, and other wealth. They are essential legal documents that allow you to control how to distribute your possessions in the event of death. With the help of a Las Vegas probate attorney, you’ll have peace of mind knowing that everything you worked for will go to the right hands.
It is understandable why some people refuse to think about writing a will. That is especially true if they haven’t reached the retirement age yet. After all, nobody wants to die or prepare about dying if you’re still strong and able. These 11 reasons, however, should help you understand why you should prepare them as soon as you can.
You can decide how to transfer your estate.
You can be in control of how to distribute your estate if you prepare a will with the help of a Las Vegas probate attorney. It will ensure that the “who, what, and when” of your estate will be carried out according to your desires.
Having a legal document will also protect your loved ones and those you wish to have your estate in the future. It will prevent family fights over who has the right on your estate since these are already explicitly stated in your will.
You can choose a guardian for your child.
Feel at ease when you know that your child will be in good hands in case of your unfortunate and unexpected death. Without a will, the court will decide who gets custody of your minor children. It could be another family member, a state-appointed guardian, or someone whom you wouldn’t want to raise your child.
It will help you avoid the lengthy probate process.
With or without a will, your estate would still go through a probate process, but it would be a lot faster with a will. The court will decide how your estate would be divided in the absence of a will, and this would take up longer compared to already having your desires stated in a will.
It would allow you to reduce estate taxes.
With careful planning and a will, you can reduce the estate taxes that go with the inheritance. Taxes can reduce the value of your estate, so it is best to prepare for the transfer of your titles early on.
You can include disinheritance for those you choose.
Disinheriting family members or ex-spouses is not a rare instance. You can take over the natural course of inheritance if you create a will which states your desires. A Las Vegas probate attorney will help you prepare the documents you need to disinherit those you want to.
You can find a professional probate attorney to help you with the process.
A Las Vegas probate attorney can assist you in creating a will according to your wants. They will inform you of the details you need to know and guide you throughout the process. All you need is to find a knowledgeable and reliable attorney to help you.
Remember that you can change it at any time.
One reason why many people do not begin writing their wills is that their future is uncertain. They wouldn’t know if their spouses, children, and other beneficiaries will still be alive before the person dies.
Similarly, the birth of a child or grandchild would mean more beneficiaries to cover. Some couples may even undergo separation and divorce. Thankfully, they can change the will in the event of death, divorce, or other significant life changes.
You can include charities and gifts.
Many people would want to leave behind a legacy that would go on past their deaths. That is why they donate to their specific chosen charities and beneficiaries.
Your donations and gifts would mean a lot from the people you would help. Moreover, donating on charities may grant you specific estate tax exclusions. These tax exclusions can help improve the value of your estate at the benefit of your heirs.
Avoid greater legal challenges.
If you pass away without a will, your property might go to a family member or partner that you don’t intend. That could be a neglectful parent, a rebellious child, or an undeserving business partner.
In one case, a deceased son was granted over a million dollars for wrongful death. This was given to his father, who haven’t been with him for decades, instead of his other close relatives and friends.
You can choose the future for your small business.
Having a will is beneficial for small business owners. Without it, your small business may go to family members who do not have experience running a business. If this happens, they might go bankrupt, and the business you worked hard for will die alongside you. As a wise, business-minded person, you would know that you should place your business in good hands.
You can never predict tomorrow.
We will all die eventually, although some face it sooner than others. Many die of old age or illness, while some others die of accidents. To ease the stress of this uncertainty of death, it is a good idea to start thinking about writing a will. A Las Vegas probate attorney can help you draw up an estate plan to secure your future.
Collaborate with a Las Vegas Probate Attorney in Writing Your Will
Now that we have 11 reasons for you to consider will, you can begin writing your own now. To help you with the legal matters in writing a will, you can get help from an attorney.
Updated: September 18, 2019