WHY SHOULD I HAVE A WILL?
1. A will allows you to choose who will receive your property after you die and how much each heir will receive. If you don’t have a will state law determines who inherits what and how much they receive. There are some legal restrictions that prevent someone from totally disinheriting their spouse.
2. A will allows you to choose the person who makes sure the terms of your will are followed. This person is called an “executor”.
3. A will can contain a trust to help protect property you are leaving to your minor or disabled children. The trust portion of a will names a “trustee” who you select to watch over their property and attempt to keep it from being squandered or taken from the beneficiaries of the trust.
4. If you have minor children, a will allows you to express who you want to take care of them, a guardian, and who you want to be their person who will look after their property, a conservator, if you choose not to have a trust.
5. The cost of a simple will, or a will containing a trust for your children, is very low.
6. A will provides some peace of mind that your affairs are taken care of in an orderly fashion.
7. A will can be changed or revoked at any time so long as you are legally competent.
Contact William F. McGinn at McGinn Law Firm to schedule your free initial consultation concerning preparation of a will.