Estate planning helps to organize everything for when you are no longer here. It is a way to ensure that your loved ones carry out your wishes properly.
One of the most important aspects of estate planning is creating a will. It is helpful in a variety of ways during the administration of your estate.
Gives you control
One of the main benefits of having a will is that it allows you to have control over the distribution of your assets even when you are no longer here. Without a will, state law dictates who gets your assets, which may not align with your wishes. By creating a will, you can ensure that your assets go to the people or organizations that are most important to you.
Avoids disputes
Having a will in place can help to avoid disputes among your loved ones. Clear instructions can help prevent confusion and disagreements about your asset distribution, which can help preserve family relationships during a difficult time.
Protects minor children
A will can also designate a guardian for any minor children. If the other parent is not able to step into a caregiver role, you can decide who will take responsibility for them and ensure they have the proper care after your death.
Outlines other wishes
You can include other instructions and wishes in your will, such as outlining a plan for your funeral and burial, or ensuring a loved pet receives proper care from someone you trust. It also gives you a chance to leave a special message or departing word for your loved ones.
To ensure your will is valid and can offer all the benefits, you need to create it according to state law. Questions about the validity can cause delays in the probate process.