Making a Will
Having a formal, legal will written before you pass is almost universally a good idea. A will is a document that dictates how your worldly possessions are to be handled upon your death.
Without one, a set of standardized laws will determine how your properties, possessions, and financial holdings are distributed. These laws will not always distribute your estate in a way that is in line with what you might have wanted.
Setting up a will allows you to distribute your estate as you see fit, such as including people not in your immediate family, donating some or all of your assets to charity, or leaving it all to a single person.
A well prepared will can also minimize the financial burden of transferring all of your assets on your family and loved ones. Additionally, the less your family has to struggle with legal issues regarding your estate, the easier it will be for them to deal with their loss.
Having a will is arguably one of the most important things you can do for yourself and your family. Not only can a will legally protect your spouse, children, and assets, it can also spell out exactly how you would like things handled after you have passed on. While each person’s situation varies. Contact the law office of Cook/Thompson for a free consultation.