A favorite relative has always told you you would receive a coveted item when she passed. The item has a lot of sentimental value to you and has been in your family for generations. You know that your siblings and cousins do not have any sentimental value attached to the item. Your loved one dies, but she does not have a will. The cherished item that moved through the family for many generations now falls into the hands of a cousin, who you know would rather sell the item for cash. Even after speaking to your cousin, he refuses to give you the item and entertain the idea of selling it to you.

Creating an estate plan—or at least a detailed will—can prevent scenarios such as this from happening. The experienced probate attorneys at France Law Firm can help you create a will or an appropriate estate plan for your situation.

When Adults Should Create a Will

Every adult, regardless of age, should have a will. Even if you are still living with your parents at 18 or are just starting, you most likely have a bank account, a vehicle, and sentimental items you would like a particular person to have should something happen to you.

Anything could happen at any time in your life. An unexpected, sudden illness or an accident could easily take your life at 18 as it could at 80.

Reasons Every Adult Should Have a Will

Creating a will allows you to name a guardian to care for minor children and family members who may be unable to care for themselves. A well-drafted will also allow you to name an executor—someone you trust to oversee the distribution of your estate. Additional reasons to create a will early in your life include:

• Making bequests and donations to certain people and charities can decrease estate taxes.
• The possibility of avoiding probate, which is time-consuming and often expensive.
• Minimizing family stress during a difficult time.

As you add assets, you can easily change your will. Over your lifetime, as you start earning more, amassing more assets, and having children, you can create an estate plan that can help protect your assets and your family should you become incapacitated or die.

Information Required for a Will

Before you speak with an experienced estate planning attorney, it helps to gather the information required to draft a will. You will need:

Personal Information

You will need the legal names, birthdates, and addresses of you, your spouse, children, beneficiaries, and potential executors or guardians. Phone numbers are helpful, too. You will also need the date and place you married your current spouse, prenuptial and/or postnuptial agreements, divorce decree, and custody paperwork.

A List of Assets

All property you own, whether in your name only or jointly with your spouse, should be on the list. The list should include bank accounts, cash, life insurance policies, pension plans, retirement accounts, annuities, real estate, businesses, vehicles, jewelry, boats, items of sentimental value, and furniture. If you have pets that should go to a specific person, be sure to list them, too. Don’t forget book collections, coin collections, and tools.

A List of Debts

Include all debts such as credit cards, mortgages, promissory notes, and mortgages. You should also include account locations and the location of account access information.

Beneficiaries

Know who you plan to bequeath your assets to. Bank accounts and life insurance accounts may already have a beneficiary—be sure they are the same person on the account and in your will.

You should also add secondary beneficiaries if something happens to the primary beneficiary before your death, or if the primary beneficiary dies simultaneously.

Representatives

To protect your interests, you should have a list that includes an executor plus two alternatives, as the probate court must approve the named executor. You should also include:

• Lawyers
• Trustees
• Guardians for minor children and family members who require care

Contact France Law Firm

Create a will or an estate plan to protect your assets and your family. It does not matter how young you are—if you are an adult, even if you still live with your parents, you should have a will or an estate plan. Contact France Law Firm at 850-224-1040 or complete our contact form today to schedule a consultation.