Taking the time to meet with a lawyer and establish a Will is the best way to ensure the proper division of your assets after you pass away. Despite what many people think, creating a Will is a surprisingly fast and streamlined process. Taking the time to meet with a lawyer can protect your family from having to deal with the messy process of Probate and the conflict that can arise as a result of not having a Will. The team at CBM Lawyers has been handling estate matters for clients with dedication, commitment, integrity, and discretion since 1977. We understand that creating a Will can be a stressful experience however, we strongly encourage everyone to do so.
These are our top 5 reasons that everyone should have a Will:
1. Divide up your assets
Having a Will ensures that your assets are properly divided amongst your living relatives and loved ones. Whether this includes property, a business, or family heirloom - Wills ensure that your belongings are fairly distributed and given to the rightful heirs. Without a Will, the process is messy and can result in ongoing legal proceedings and conflict. Creating a Will ensures that when you do pass away, your loved ones can proceed with your desired distribution of belongings.
2. Protect your children
If you have young children in your care, a Will ensures that they will live with a guardian of your choosing in light of a tragic situation. If you do not have a Will, you risk having a court-appointed guardian which may not be in the best interest of your child. Having a Will protects those who are vulnerable and rely on the care of a responsible adult.
3. Avoid a lengthy probate
Most estates must go through Probate at some point. However, having a Will can ensure that the process is much smoother. Without a Will, this process can be painfully long and exhausting. Having a Will streamlines the division of assets and ensures that your loved ones are not stuck trying to navigate through the legalities of a long Probate.
4. You can make changes
Creating a Will now does not restrict you from making changes down the road - including adding and removing people. As long as you are capable and competent, you are able to modify your choices late on. The ability to edit and develop a Will makes the initial creation of the Will a less stressful ordeal. Sudden gains or losses can be accounted for, as well as any relationships that may change over time.
5. Tomorrow is never guaranteed
One unfortunate truth is that life is unpredictable. Whether young or old, having a Will protects you from the unforeseen and unpredictable happenings of life. Procrastinating your plan for a Will can negatively affect those that you care about in the unfortunate situation of sudden death. Creating a Will ahead of time is the best way to prepare for the unforeseen and protect both your assets and loved ones.
This article is written by Janice Papp. Janice is a CBM Associate, who specializes in Wills, Estates, and Trusts. For more information on Wills, Estates, and Trusts - please visit CBM Lawyers LLP. CBM has been handling estate matters for clients with dedication, commitment, integrity and discretion since 1977. For more information regarding funeral services and preparation, please visit the Kearney Funeral Services and Cremations page.
