A last will and testament is an important aspect of estate planning that ensures your last wish is honored and granted after you’re gone. It is a legal document that details how you want your assets to be shared, the guardians you want for your minor children and an executor to help manage the estate. A last will and testament provides clarity and reduces the chances of conflict over your legacy in the future.
This article will explain some of the importance of a last will and testament in estate planning and why you should hire an estate planning lawyer. Continue reading to learn more:
- It ensures your assets are distributed according to your wishes
One major importance of a last will is to specify how you want your assets distributed after your death. This includes your real estate, bank accounts, investments and personal belongings. Without a will, the distribution of your assets and properties will be determined by the state, and you wouldn’t want that. A will ensures that your assets are given to beneficiaries you choose according to your preference.
- It ensures you appoint guardians for your minor children
If you still have minor children, setting up a will early is the next best step. The future is unknown and anything can happen, so you must ensure you make plans for your children to be in safe hands when you’re no longer around to guide and guard them. Appointing a guardian for your minor children can be included in your will. Without a will, the court will make the guardianship decision which may not be according to your wishes. By clearly naming a guardian, you can ensure your children’s welfare and stability are in safe hands.
- It reduces the chances of family conflicts
Without a clear and legally binding will, conflict and dispute may arise in your home after your death. Family members may argue and fight over asset distribution and other matters. These disputes can cause major problems and even lead to legal battles among family members. This can be avoided with a last will and testament, leaving no room for contention, disagreement or dispute. By expressing your wishes early, you can help preserve the peace and unity in the family during an already difficult time.
Conclusion
A last will and testament is an essential part of estate planning that mustn’t be overlooked. It brings about a lot of benefits and ensures that your wishes are respected and adhered to. It also helps prevent family disputes and maintain peace in your home long after you’re gone. By clearly stating how your will should be distributed, you can rest assured that your properties will not be mishandled and your children and other beneficiaries will be properly taken care of.
Hire a trusted and reliable estate planning lawyer to help in drafting your last will and testament. At Citadel Law Firm, we help our clients draft a will that preserves their legacy and protects their families from the state and the law.
Contact us today to learn more about our services!