A will is important for many reasons, but most of all – it is essential to leave a will behind once you’ve passed on with instructions about how to apportion everything you’ve cared for and possessed during your life.
Some would argue that one of the most important aspects of a will are the arrangements for dependents, children, and pets. Certainly, a will is one of the best ways to protect those you care for in your absence. A will is a must-have for parents with minor children who would like to decide the person(s) best suited to replace them in parenting. It is possible to designate a known and trusted guardian who will look after and care for your children in a way that will be most beneficial to their growth and development. Chances are there is already someone you trust or that you believe will care for your children properly. Otherwise, a court will most likely decide who will take care of them. You might also designate an individual who has an understanding of your estate to help you to protect any property or possessions that you’re leaving to minor children, as well as a caretaker for your pets.
Another critical reason to have a will is that you have the power to specify who is to inherit your private property and assets. Not only might you choose to extend this property to, for example, someone who really needs or could benefit from it, but it also prevents those related to you from attempting to inherit your legacy by waging expensive and bloody battles in court. The aftermath of a court battle betwixt families over material possessions is probably one of the least opportune ways of sustaining the love and harmony between them.
In your will may want to make sure everything you have is accounted for as a way of avoiding estate taxes. Once the identified items have been claimed, there will be far less tax assessed to your remaining estate. As you reflect on your legacy, you might take the opportunity to donate to organizations that promote a cause or movement you believe in. What you give could further that movement, and you could affect real change or bring benefit to that entity after your passing. It is also recommended, in the case of a living trust and other types of estate plans, to create a will, which will reinforce what is stated in these kinds of arrangements. Oftentimes, these instruments can complicate matters if there is any type of mistake made or if something was left out.
Our lives are filled with many a thing. Leaving a will behind helps to organize matters and arranges for others to facilitate either the promotion or conclusion of our lifetime events.