The last will can be described as a file where a particular person will be able to decide who will inherit all the possessions and properties. Creating this kind of document is crucial if you are interested in avoiding some misunderstandings among the inheritors. The testament has the task of precisely determining who will get what and the whole process will be done according to the word of law.
Even though this is something that can hold a high percentage of the processes under control, we can see that, sadly, 2/3 of Americans currently don’t have this document. Those who don’t have it, need to be aware of how crucial it really is. For example, it could happen that some percentage of your property will go to someone you don’t really want to give anything to.
Law can be pretty complicated sometimes, and if you are not explicit about your wishes, some percentage of your property or belongings could go to someone you didn’t have in your plans. If you don’t know much about creating documents, be sure to take a look at simplylawtemplates.com.
Now that you are fully aware of the concept of last will, we would like to talk about five reasons why you should create this document and not let the argument between your close relatives to reach the court. Without further ado, let’s talk about these reasons.
1. Your Children in a Proper Care
In case you are a parent, and there’s no one besides you, this document that will let you decide who will be the caretaker of your minors. Of course, in case something happens to you. In case one parent has passed, the other one will receive all the rights when it comes to children. However, if it happens that both parents passed away, we are talking about one of the most important reasons why you should create your own last will.
Your children’s legal guardian can be someone you trust, most likely some member of the family, and the minors will be taken care of properly. When we say this, we mean the guardian will be directly responsible for all the children’s daily needs like housing, food, education, healthcare, clothing, etc. In case you haven’t named a guardian for your children, the law court will be forced to make this decision for you, meaning that there are no guarantees that they will be within the family no more.
2. Pick a Manager for Your Property
As you can presume, picking someone who will take full control over your estate is a crucial question that you have to resolve before you left this world. When you write your testament, you will be the testator, and you will have the opportunity to choose an executor. This means that you will pick the person who will be directly responsible for taking care of your property.
When the executor is nominated, his position will become imminent after the execution of the testament itself. Don’t be fooled, this is a pretty important job. There are so many different responsibilities for the new manager. Therefore, you need to look for a person that’s both trustworthy and capable. Even though we are fully aware of how hard this is to find, you need to give your best efforts to succeed.
3. Save Money, Time, and Don’t Stress out Your Family
Before all the executors receive their own percentage of the property, estate, or responsibilities, it should be said that all of it needs to go through the probate court. This is the moment when the process will be overseen by the law. In case don’t have the law, things will get much more complicated, you can be sure of that. The court itself needs to find a proper representative who will administer the estate in question.
For those who don’t know, this is a pretty long process that can take too much time before it’s completed. At the same time, it requires a lot of money to be finished properly. Therefore, if you have a last will or testament, you will make sure that all these unpleasantries are avoided completely. In your testament, you will choose your own executor who will take control over the estate or property, as we’ve already said.
4. Find a Home for Your Pet
If you are the type of person who likes to have pets and you actually have them, you need to make sure that they are properly taken care of. We cannot think of a better way you can do that than including them in your testament. When we say this, we mean that you can select the person who will take care of your pets. That way, you can make sure that they are placed in the right hands.
Different from what you might feel, pets are considered as properly according to law. Therefore, there isn’t too much difference between pets and any other kind of property you will entitle someone to in your last will. In case you don’t do that, then you cannot be certain that your pet will be placed in a home where it will receive all the comfort and care. So, you should make sure before it’s ordered by the court.
5. Decide on Who Receives Something
Let’s face it, when people are facing some kind of illness or dangerous condition, the last thing they would like to think about is the last will. But it should be said that there are a lot of different things that this person needs to take care of to avoid the court’s decision. For every piece and any percentage of the property you have in your ownership, you can select a beneficiary or an executor.
We don’t believe that finding someone who would gladly take the things you’ve decided upon, but there’s a chance that will happen. When you decide to write your own will, you will have full control over the process of giving the properties or items to a particular person. Therefore, it’s really important that you do this.