Why is it so important for me to have a will?
None of us wants to contemplate death, which is likely the reason that fewer than half of all Americans have a will. Estate planning can be a difficult topic to tackle and many people simply put it off, at times until it is too late. Creating a will is critically important for the preservation of your property and your legacy. With the assistance of an experienced Nevada estate planning attorney, drawing up a will can be completed with ease.
What a Will Can Do
Creating a will is essential not just for the elderly or wealthy. Sadly, accidents and unexpected illnesses claims the lives of hundreds of thousands of Americans annually. If you die without a will, your assets will be distributed by the court according to Nevada law. You will have no say in who gets what or who will care for your minor child. Your funds could additionally be tied up for a significant amount of time and much of your money will go towards taxes. With a will, you can do the following:
Name a Guardian
If you have minor children, you will be able to provide for their care with a will. You can name a proposed guardian in the event you and your spouse both pass away. You can also set aside funds to be used for your child’s care within your will. Having the ability to name a guardian can provide you with peace of mind that your child is in the best of hands.
Control Who Receives What
You likely have possessions or pieces of property that you would like to go to a certain child, relative, friend, or charity. With a will, you have control over who receives your property. This can significantly cut down on any strife or disagreements among heirs because a will makes your wishes clear.
Creating a will is a critical first steps towards building a solid estate plan. With the help of your estate planning attorney, you can explore other important estate planning tools, such as a living trust. Do not put off drafting a will any longer; take steps to preserve your legacy today.