Should You Have A Last Will?
Published on December 30, 2021

Perhaps the name is what is so off-putting: Last Will and Testament. Perhaps it’s the fear of dealing with complex issues surrounding finances and family. Perhaps it’s the finality of that word “Last.”

Whatever the reason, a recent Gallup poll has again found that more than half of American have not created this crucial document that helps ensure their wishes are carried out when they die.

Creating a will, with the assistance of an experienced estate planning attorney, need not be an agonizing process, but it does need to be done right.

Here’s just a few of the many factors to consider when you are thinking about creating a will:

When should you create a Last Will?

The term “Last Will and Testament” has an ominous ring of finality about it, but the truth is you should have a Last Will as soon as you turn age 18, to guide your family and loved ones for distribution of your assets, whatever those may be.

Your Last Will can and should be regularly updated as your financial and familial situations change, and a good rule of thumb is to re-examine your Last Will every 3 to 5 years.

Last Wills are about more than just assets

Many people believe the only reason to have a Last Will is to divide assets such as property, money, jewelry, stocks, and life insurance policies.

In fact, a Last Will and Testament provides clarity on a wide range of other issues.

You can use the document to accomplish other end-of-life goals such as medical decisions, guardianship for your children or pets, and make funeral arrangements.

There are many more reasons for creating a Last Will and Testament, and not everyone’s situation or needs are the same. For more information about creating your will, please contact our office today.

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