There are a few certainties in life. You know the sun will rise every morning and set every evening. You know that income taxes are due every year, property taxes due every quarter. One thing in life you do not know is when your time is up. While many Americans, including those from Tennessee, enjoy long fruitful lives, sudden accidents, injuries or illnesses can strike anyone at any time, without notice. This is why it is important to have a will.
For most people, thinking about death is the last thing on their mind. People want to enjoy life. They want to work to support their family, enjoy time with their family, whether it is simply sitting on the couch watching a movie together, going out for a hike, or wandering a distant or foreign land on vacation. But you have worked hard for the things you have earned in life. When your time comes, don’t you want to make sure that your assets are protected? Don’t you want peace of mind knowing that when your time is up that the things you’ve worked your life for are properly allocated to your loved ones?
A will allows you to document where your property and assets go when you die. It can help speed up the process. Typically, you will set up a representative or executor to manage your estate and make certain that everything goes where it should, according to your wishes. If you have minor children, a will may be used to nominate a guardian in the event of your death.
When working on your estate planning to protect your assets, it may be in your best interests to reach out to a legal professional to help you along the way. A lawyer can help you maximize the chances that a will is formed properly to avoid delays or headaches to your loved ones down the road.
Source: FindLaw, “Wills: An Overview,” accessed on June 13, 2017