PROTECTING YOUR LOVED ONES AND ASSETS
When is the right time to create a will? Virtually everyone postpones writing a will. Seven out of ten Americans never get around to writing this important legal document. Many people do not realize that writing one actually is a gift to your children, grandchildren and spouse.
Triggering Events which signal it’s time to write a will
- Getting Married (or divorced)
- Having Kids
- Starting a Business
- Buying a Home
- A Visit with Mortality
- A change in wealth or assets.
Why you need a will… NOW!
Creating a will gives you sole discretion over the distribution of your assets. It lets you decide how your belongings, such as cars or family heirlooms, should be distributed. If you have a business or investments, your will can smoothly direct the transition of those assets.
If you have minor children, a will lets you provide for their care. If you have children from a prior marriage, even if they are adults, your will can dictate the assets they receive. Creating a will also minimizes tensions among survivors. Relatives battling over your possessions can weaken what may have otherwise been a strong family.
If you are charitably inclined, a will lets you direct your assets to the charity of your choice. Also, if you wish to leave your assets to the charity of your choice. Also, if you wish to leave your assets to an institution or organization, a will can see that your wishes are carried out.
Our estate planning attorneys provide a full range of services to meet all your estate planning needs. We will work with you to create a complete, comprehensive plan to preserve your wealth and ensure that your wishes are carried out. We have the tools, knowledge and experience necessary to give you and your family financial security and, ultimately, the peace of mind that comes from knowing you have a properly designed and implemented plan in place for the future.
If you don’t have a large estate or if you plan on leaving everything to your spouse or children, you might think estate planning is not necessary. However, everyone needs an estate plan.
Virtually everyone postpones writing a will. Seven out of ten Americans never get around to writing this important legal document. Many people do not realize that writing one actually is a gift to your children, grandchildren and spouse.
A will may be the most important document that you ever write. Virtually every person – married, divorced, single, childless, parent, in good health, in bad health – should have a will for the simple reason that without one, you cannot determine who should receive your property and who should be in charge of your estate.
Furthermore, a person should think about updating his or her will at least every five years.
BY SHIRA FRACKT, ESQ