Working with an experienced attorney to create a will rarely seems urgent. Few start the day thinking their time is short and then call an experienced attorney to help get your affairs in order.
Whether you are young and single, a parent or entering your twilight years, the time to make a will is now. There is no wrong age to create a will because it should have been done yesterday. Consider the reasons why these three general groups would benefit from having a will in place.
Young Immortals Have Needs
Anyone who reaches the age of 18 can draft a legally-binding will. That being said, most young adults and 20-somethings do not take the time or make an effort to create their first will. Youth and health tend to make you feel immortal and thoughts of passing away seem like a distant future. But some common reasons should prompt you to consider contacting a legal professional.
Enlist In The Military: The brave men and women to choose to serve the country understand they are putting themselves in harm’s way to protect American freedom. Should you lose your life defending the nation, it’s essential to have a will that outlines your military death benefits and personal property.
Inheritance and Wealth: A young person may receive an inheritance from a loved one that has substantial value. Decisions about that inheritance or other accumulated wealth are left to the courts without a will.
Personal Property: Although not everything you own has substantial monetary value, the sentimental value can be priceless. What happens to personal belongings such as jewelry, automobiles, photographs and even social media accounts matters to those you leave behind.
One of the ideas that tends be missed by young adults is that a will is an act of kindness. It allows your loved ones to understand your wishes and demonstrates how you felt about them.
Parents Have Long-Term Responsibilities
There’s no arguing the fact that becoming a parent inextricably changes your life. After the birth of a child, you come to realize a powerful sense of responsibility for another human being. That duty extends beyond your lifetime as well. These are the reasons why parents need a will.
Put A Guardian In Place: If something unfortunate were to happen to you and the child’s other parent, decisions would revert to the courts. Although judges focus on the child’s best interest, they cannot know your values or the depth of relationships you have with others. Who you view as the best person to raise a child may not be the same as the courts.
Business Management: The financial resources you leave behind are likely to require some level of oversight. If you own a business, your heirs may not be old enough or have the expertise to continue its operations. Unless you are satisfied that your life’s work could be sold off, it’s imperative that a professional handle the operations going forward so your children can benefit from the revenue.
Personal Wealth Management: One of the more favorable ways that parents care for children after they’ve gone is to create a trust that portions out money to support minor and adult children. Minors will likely require a trustee to help manage affairs until they are able. In some cases, it may be your parental decision to parcel out money even after they are adults. You know your children and a will can extend your parental love.
Seniors Have Substantial Need For A Will
Unlike young immortals, elders tend to consider creating a will more seriously. Still, many of our valued elders continue to kick that can down the road. This type of procrastination about creating a living will can prove detrimental for a number of reasons.
Medical Care: A living will directs loved ones and medical professionals about the type and level of care you desire. It provides doctors with written, authorized advice about how to proceed should you become incapacitated.
Puts The Right Person In Charge: A living will gives a person of your choosing the legal authorization to help manage your health care or financial affairs in the event you are unable. It puts you in charge of who is in charge.
Peace Of Mind: A will can resolve potential family disagreements before they occur. The document can offer detailed information on a wide range of health, business and wealth distribution subjects. Knowing that family, friends and loved ones are fully aware of your wishes allows them to celebrate your life to the fullest.
There is no wrong age to create a will because that day has already passed. Regardless of age or station in life, a will is an act of kindness to the people in your life. If you would like to create a will or update an existing document, contact the compassionate attorneys at France Law.