You probably have one of those “need to do eventually but not today” lists residing somewhere in your brain.
Eat more salad. Paint the bathroom. Jog 30 minutes a day. The possibilities of an “almost” New Year always seems to inspire those infamous resolutions and get us jump started on things we should have done a long time but just never found the time.
Before you get carried away with wrapping up last year’s list and pushing everything else off to 2015, why not pencil in “write or update a Will” at the top? Together I can STILL help you put those documents into place before next year.
Three great reasons:
Reason # 1: Your children
First and foremost, think about your kids. You’ve made a lifelong commitment to love and nurture them. But, if you haven’t made provision for their Guardianship upon your death, then the Courts and the law will make that decision for you. Do you want the determination of your children’s care and training entrusted to the legal system? If not, then for no other reason, PLEASE CONSIDER writing a Will.
Reason # 2: Your assets
Second, you need to know that without a Will, your assets will be divided up without any input from you. The Probate Court will use a pre-determined legal formula to decide who gets what, how much they will receive and when. Don’t leave your money’s fate to chance. Take control of what happens with your estate by getting that Will and Trust drafted as soon as possible!
Reason # 3: Estate Taxes and Unnecessary Probate Fees
Estate taxes may eat away a sizable portion of the money you leave behind without proper drafting! Also, not to be ignored, is the goal of reducing Probate costs, which can only happen if you do some drafting while you are alive.
Now you know some of the important reasons why you need a Will.
We are all so very busy. That’s why my firm’s motto is “Estate Planning for the Busy Parent”.
Between business meetings, daily to-do(s), school functions, the kid’s after school activities, and the myriad of other events that make up our overly busy lives, we feel like we can wait until some unrealistic “convenient” time appears on our schedule.
Don’t let yourself make this mistake in 2014 or 2015.
Put “Will writing” at the top of that list. Trust me. Your Will is more than just a piece of paper. It is a valuable gift to your family.