5 Reasons You Should Have A Will

Believe it or not, regardless of your age, having a will is one of the most important things that you can do for your family's safety. A will helps to protect your children and assets and spell out exactly what you hoped to be done with your belongings in the event that something should happen to you.

Without a will, your belongings remain up in the air. It's important to protect your spouse and children by ensuring that there is a will set in place. Here are a few reasons that you should make sure that you have created a will. You can easily do that using a will kit.

Your Estate

If you want to ensure that your children inherit your home to sell it rather than it going to someone else, then a will will ensure that that happens.  A will that you create is a legally binding document and will be respected if you clearly lay out your wishes for what you expect to be done with your home.

If something were to happen to you, and there was no will said in place, your family may fight about your estate and where it should go.  

Your Children

Writing out a will means that you get to dictate who should take care of your kids if you should pass away. If you don't have a legally binding will, you can rest assured that the court will decide who should take your children amongst your family members.

If there is someone in particular that you would like to ensure that your children go to in your absence, then a will is essential for ensuring your wishes are respected.  

Estate Taxes

Another incredibly important reason that you should have a will is because it allows you to minimize the estate taxes. Whatever the value is of what you wish to be inherited by your family will reduce when it is time to pay taxes on the estate.  

Executor

Your will allows you to decide who will take care of the handling of your estate. Deciding an executor will ensure that you have the person of your choice paying off any bills you owe. From taking care of your unpaid credit card debt to notifying all appropriate establishments of your death.

It's important that you choose an executor who you can fully trust to ensure that they will do a thorough job.

Excluded Inheritors

If there are certain people that you absolutely do not want to end up with any of your belongings, then a will allows you to disinherit anyone from your estate.

By carefully outlining in your will who you wish your things should go to, you can avoid people inheriting your things who you would prefer not to. For example, you probably don't want an ex-spouse taking your belongings if you can help it.