When you think about planning for retirement, you understand that you are arranging for your own future situation. It can be easy to think that you are all set once you have your retirement plan set in motion. However, you have one more thing to do, and that is to arrange for the other people in your life to carry on once you're gone. It is difficult to consider your own demise, but if you handle it now, you won't need to worry about it later on. Here are some reasons why your comprehensive retirement plan needs a will.
A Will Benefits the Ones You Love
When a person passes away, there are a ton of little things that must be done in order to settle the estate. Keep in mind that the estate can consist of nothing more than a checking account, or it can consist of your palatial castle and grounds. Either way, your loved ones won't be able to easily take possession of your estate unless you have a will.
Your loved ones will be in a grieving mode for many months or even years after you pass away. Why not give them one less thing to worry about? When you create a legal will and testament, you dictate exactly how you want your assets to be distributed among your loved ones. Your will serves as the easiest way for your loved ones to inherit what they rightfully deserve, without the hassles of proving anything to the courts.
Making a Will Helps You Consider Your Assets
When making a retirement plan, you should consider all your assets. But you might inadvertently leave some assets out. You might forget about the heirloom jewels you own, or the fur coat your grandmother left you. Making a will helps you consider all your assets. When you create your will with the help of an estate attorney, you'll likely remember about the genuine pearl necklace you received on your 18th birthday or the engagement ring your spouse presented to you. All these things can get lost in probate without a will. After probate, without a will, your family members could get into a family feud as they fight over who should get what. Avoid all these messy complications by assigning ownership to all your valuables with your last will and testament.
For more information, contact Haber Catherine A or a similar legal professional.Share