When considering why have a will when you die? There are many reasons to have one. Unless you want strangers going through your things and dispersing them between family and friends, you’re going to need a will.
A will is your last wishes and if you don’t want someone you don’t know deciding who gets what when it comes to your belongings, you really need to have a will. Check with your Nevada Estate Planning Attorney to assist you with this process.
Many people who don’t have a will would have wanted certain people to have certain things in their belongings. If you don’t have a will, you could be one of these persons.
The division and distribution of what you own is left to the statutes called “intestate” law. Basically, this means that if you have a spouse or children, they are usually the ones that will divide what you own after your death.
However, if you don’t have a spouse, children or even grandchildren, your estate (belongings) will be divided amongst your siblings, parents, cousins, aunts and uncles and anyone else who is a relative and has survived you.
Whoever inherits your estate will be the person that is appointed to be the administrator of your estate. They will settle out who gets what and they will determine how your debts are paid. This is typically done by selling your assets and paying your debts off.
Minor children will have to go to court and have a guardian appointed unless you leave them to a specific person or family. You really don’t want to leave something like this to chance. What if they are placed with a family member that you don’t want them to be with?
While there are rare situations where the children are sent to live with someone that they don’t wish to be with, it does happen and you won’t want it to happen to your kids.
It’s always a good idea to make sure that whatever you own goes to whomever you want it to go to. Especially if you’re married. You want your husband or your wife to have all of your belongings. You don’t want there to be any surprises.
If you don’t take the time to write out your will, then you’re not going to get your wishes carried out. There are many situations where children are divided up and not raised together because parents didn’t have a will.
This can be very upsetting to the children who are already struggling with the grief of your demise. Don’t put them through more agony just because you didn’t have a will.
Choose someone to carry out your wishes and make sure that they fully understand what you want. Make sure that they will pay the debts and the taxes on what you have so that you can hand it down to your family.
The will won’t save you from having to pay off debts or taxes, but it will make sure that your family isn’t shocked by who gets what or that the debts aren’t paid and your family has to give away your belongings to pay for the debts.
If you own a lot of property be sure to find out the details of how to divide it up between family when you write your will. Don’t leave any of it to chance. A Trust Lawyer can help you accomplish this.
Also, make sure that you have life insurance and that your family knows how to access this. All of your business accounts and private accounts need to be accounted for and you’ll want to make sure that you have it all in order so that if you die unexpectedly someone knows what to do and how to take care of things for you and the rest of your family.
A grieving spouse is in no emotional shape to have to determine anything at this point. Make it easier by having a will and making it clear what needs to happen. Let your spouse know that you love them by having all of your documents in order and then focus on living the life you want.
Why have a will when you die? To make it easier on the rest of your family and focus on living. Consider hiring a Living Trust Attorney to assist you with your estate planning process.