What Can Happen If You Don’t Have A Will
Are you fairly young and feel like you do not need to create a will yet? If so, you may be surprised at how many problems it can create if you were to unexpectedly pass away. While these won't be problems that you will have to deal with, not having a will can create a big mess for family members that have to deal with it.
Guardianship Not Determined
If you have kids, having a will is essential in determining who will be their legal guardian if you pass away before they turn 18. They may end up in a situation where nobody wants to step up to be their legal guardian, or an argument happens with multiple people wanting to be their guardian.
A will can answer the question with certainty about who would be the legal guardian of your kids. It will help to have a discussion about it with who you want to be their guardian so it doesn't catch them by surprise. While a will is not a legally binding contract if selecting guardianship is necessary, it can help remove the guesswork of what you would want.
Property Distribution Not Determined
Another problem that can happen is deciding who will receive your property after you pass away. If you're married, that property would typically go to a surviving spouse if you pass away. However, that doesn't create a clear situation if you pass away after your spouse or there is not a significant other in the picture.
Your estate will end up going through the probate process where another person makes the decisions for you. Assets will be sold to pay for existing debts that you may have, fees taken for legal service, and then the remaining assets and money will be distributed.
Much like with guardianship, it's possible for disputes to happen when multiple family members or friends want to make a claim for some of your assets, such as valuable real estate. The state decides who is going to make the tough decisions, which puts a lot of unnecessary pressure on them to deal with it. You do not want your death to cause unneeded stress between friends and family members when a will can be the answer to your problems.
Meet with a lawyer in your area who specializes in estate planning to help create your will. They will ensure that all of the important things are covered.
For more information, contact a law firm like Blake Law Office.
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