Do You Need A Will?
Do you want the ability to control and preserve your assets for the benefit of your loved ones?
Planning your estate is the best way to protect the people you care about and drafting a will allows you to express your final wishes clearly in a legal document. Surprisingly, more than half of Americans don’t have a legal will.
Contrary to popular belief, you don’t need to have a lot of material possessions, a big house or exorbitant amounts of money to have an ‘estate’. Your estate is comprised of anything you own at the time of your death. This can include a home, property, financial accounts, investments and ownership of a business.
Your will is a legal document used to care and provide for your loved ones after your death. In this document you can provide important instructions including:
- Who will be responsible for finalizing your affairs after your death
- How your property should be distributed once you are gone
- Who will look after your children and other loved ones in the future
Don’t have a Will?
7 Things to Consider:
- A will gives you the opportunity to designate your executor: the person you want to finalize your affairs and be in charge of administering your estate after your death.
- Your will allows you to express clear instructions about how your property is to be distributed; without a will your estate may not go to the people you would have chosen.
- The absence of a will can sometimes lead to family disputes, broken relationships and estrangement between family members.
- If you have young children, your will gives you the opportunity to protect their future after you are gone.
- Your will ensures that the distribution of your assets is done in the amounts and at the times that you decide.
- You can use your will to eliminate or at least reduce the taxes that will be charged to your estate.
- Your will allows you to provide for the charities and religious or educational causes of your choosing.
Can’t I just write my own will?
It can be tempting to try to save money by not consulting with a qualified attorney when executing your will. While you can draw up a will by yourself, it is not advisable. An experienced attorney can prepare your will using precise legal terms that will circumvent later problems for your loved ones. Tax implications, legal requirements, and state laws can be difficult to apply to your own unique circumstances.
It is very difficult to prove a deceased person’s wishes in court if a will is not drafted correctly and legal disputes can become very expensive. If your will is poorly drafted and subsequently deemed invalid, your estate could be distributed as though you had died without one.
Don’t leave your estate at risk: talk to a wills and trusts attorney about preparing your legal will without ambiguity.
Let us help you plan for the future: to discuss your specific needs with a wills and trusts attorney in Pittsburgh, please call us at Fingeret Law at 412.281.8222 or contact us online.