Writing a will is something that is easy to procrastinate. You may assume you have a long life to live and that you can create your will several years down the road. However, if you die without a will in place, it can cause a lot of complications regarding your assets and beneficiaries.
Still, you may be skeptical about whether you should make a will right now. Here are some of the main reasons you need a will as soon as possible.
Decide the distribution of your assets
A will allows you to determine who will receive what assets upon your death. If you pass away without this document, your wishes may not be carried out. You can leave however much you want to whoever you want when you write a will. Most people do not want their estate distributed according to state laws.
Provide peace of mind for your loved ones
Your loved ones will feel better knowing that your wishes are in writing. When you establish a will, you take a lot of guessing, miscommunication and bickering out of the probate process. If you die without writing a will, the process of handling your estate may be more complex and costly for your family members and friends.
Determine who will manage your estate
Dying without a will means the probate court will appoint someone to be the executor of your estate. The person the court chooses may not be who you trust to manage your assets. In your will, you can designate a representative of your estate. This person may be a trustworthy family member, friend or professional.
Avoid probate complications
If you do not have a will, your family is more likely to fight over your estate. If you want to reduce conflict amongst those you love most, creating a will is a great way to do it.