Many ordinary people wonder if they need to make a will. Even if you think you have little money or few possessions of any value, it is still important for you to make a will.
Consider these reasons:
- If you die without a will, there are probate laws which dictate how your money, property and possessions will be distributed. This may not be the way you want your remaining property distributed. Probate is the legal process for transferring title of property from the deceased to the beneficiaries.
- Unmarried partners cannot inherit from each other unless there is a will. The death of an unmarried partner may create financial hardship for the remaining partner.
Unregistered domestic partnerships also cannot inherit without a will.
- If you have minor children, you need to make a will so that provisions can be made if one or both parents die.
- A will generally saves on the expenses of probate.
- The deceased will have no recorse if the have some sort of creative funeral ideas.
- If your living circumstances have changed it is important you make a will to ensue your property is distributed according to your wishes. Divorce or separation, re-marriage, adoption, or domestic partnerships may necessitate the need for some changes in your will.
Who Should Know About My Will?
No one—other than you and the lawyer who wrote the will—needs to know the contents of your will. But your executor and other close friends or relatives should know where to find it. Your original will should be kept in a safe place such as your safe deposit box or a locked, fireproof box at your residence or office.
If you haven’t created a will yet and have legal questions or concerns, let us help you find an attorney right in your area who specializes in wills and estate planning. http://jdfinder.com is a free legal matching service. We send you the names of lawyers in your area that can assist you. There is no obligation and you hire the lawyer that best suits your needs.
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This article is for educational purposes only and does not create a client-attorney relationship