If You Answer “Yes” to Any of These Questions, You May Need a Will
Having a will isn’t just important during uncertain times, it is important during every season, phase, and transition in adult life. We’ve blogged about the stats before, but in short, it’s staggering how many people are going through significant stages in life without a will. Here are a few questions to ask yourself over the next few weeks, as you reorganize your lifestyle, reprioritize your relationships, and maybe even think about the unthinkable. If you answer ”yes” to any of these questions, then it may be the right time for you to get your will in order.
Q: Do you own any assets?You may own real estate, a savings and checking account, investments, a business, cars, boats, planes, or other personal property. With a Will, you can control who inherits your property after you are gone. If you die without a Will or any other kind of estate planning in place, such as a trust or non-probate transfers, then the Missouri state statutes will govern who inherits your property.
Q: Do you have a specific person in mind to take charge of your assets?Not everyone is well-suited to take charge of a decedent's assets and make sure they get distributed to the proper recipients, and no one knows better than you what your family dynamics are, and who in your circle is best suited for the responsibilities of a personal representative. A Will is the proper vehicle for expressing your wishes for a specific person to take on this important responsibility after you are gone.
Q: Do you have minor children?If you have minor children, planning for who will care for them should something happen to both parents is a formidable undertaking. Once you have selected a back-up guardian, you can formalize this nomination in your Will. Formal guardianship proceedings would still be necessary but putting your wishes in your Will can give your chosen guardian an edge should a custody battle ensue.
Do You Need a Will?If you are ready to create your Missouri Will at the Lake of the Ozarks, visit our website to learn more about our law center and how we might be able to help.
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Osage Beach, MO 65065