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 McGinn Law Firm to schedule your free initial consultation concerning preparation of a will.