While you are not required to make a last will & testament it is most certainly something that you should do. It allows you to have a say in what happens to your assets and, in some cases, your children after your death.

Many people believe that they don’t need to make a last will and testament as their estate is not very large. However, even for a person of very modest means, it is a good idea to write a will. There are a number of benefits to writing will. In particular, a last will:

• allows you to dictate, via clear instructions, how you want your debts settled and assets distributed following your death;
• allows you to choose a representative (known as an executor) to wind up your affairs;
• allows you to appoint guardians to take care of your minor children;
• allows you to make property management arrangements to cater for young beneficiaries who will inherit under your will;
• assists in preserving or even enhancing the value of your estate through the incorporation of tax and/or estate planning techniques; and
• gives you peace of mind by allowing you to organize your affairs in a manner that you see fit. This gives you the security of knowing that you haven’t left behind a legal and emotional nightmare for your family and friends.

If you don’t write a will, the probate court will make all of these decisions for you in accordance with the provisions of state law. These decisions may not be in accord with your wishes.

How Can EstateBee Help You?

For more information on wills, check out some of our other articles on wills in our Learning Center.

If you would prefer a more in-depth understanding of wills and to learn how to make your own, check out our book How to Make a Last Will & Testament. “Make Your Own Last Will and Testament” includes a plain English review of the matters you need to consider when making a will, and includes all of the instructions and template forms necessary to make your own will. It will show you how to leave money and property to your loved ones, avoid intestacy, appoint guardians for your children, save on legal fees and probate, much more.

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