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Bankruptcy & Elder Law News

Why You Need a Will

Oct 11 2014

Wills are not just for the rich and wealthy. Regardless of how much or how little money you have, a will ensures that whatever personal belongings and assets you do have will go to family or the beneficiaries you designate.

If you have own a business, a will can help ensure smooth legal transition of those assets.

Beyond your property and personal belongings, if you have minor children, a will is a must. A will ensures that you get to choose your children's legal guardian should you pass before your children are of legal adult age.

Through a will, you can also name what is known as an executor, or the person with whom you trust to have the authority to ensure that your wishes are carried out and to ensure that all of your affairs are in order from paying off bills to cancelling credit cards.

Without a will, a court makes these decisions on your behalf, among others, through a lengthy and often stressful process called probate.

Few people plan to die in the near future, but if you die suddenly without a will, you will inadvertently subject your family and loved ones to unnecessary confusion and anxiety at what is already a difficult time.

There are also other benefits to having a will, including tax benefits by helping to avoid estate taxes.

More in this category: « The Foreclosure Process

This website focuses on our firm's bankruptcy and estate and probate practices.

Attorney David Hiebert is also respected for his work in the areas of real estate law, municipal law, administrative law, zoning, development and professional license defense. We represent clients in mediation in a variety of legal matters.

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