Most adults in Pennsylvania have heard that they need a will, but many never find the time to create the document. Thinking through how a will can help you may encourage you to act.
Determine who is your executor
Setting up a will allows you to name who will oversee your estate after you die. It can ensure that everything happens in a legal and timely manner. You know who you can trust in your family, so naming that person helps ease everyone’s mind when your family may be stressed.
Dispense your assets
Many people make promises about giving a particular asset to someone after they die. Putting that information in your will ensures that they receive the promised assets. Even if someone takes your estate to court, judges will not overturn a legal will, especially one prepared by an attorney, so you can be sure that the people who you intended receive the assets you promised.
Protects your minor children
If you have minor children, you can appoint who should become their guardian when you die. Furthermore, you can name one person to raise your children and another to oversee the money you leave them. This helps reassure you and your children that they will be in a safe, loving home.
Eliminate probate
Probate can be a long process, taking up to a year or longer, depending on the complexity of the estate. Your heirs must wait for it to end before getting legal title to the property that you leave them. Depending on how you title your assets and structure your estate plan, your will may or may not have to go through probate.
Wills are legal documents that can help ensure your assets are disposed of according to your wishes and that your children are cared for at the time of your death. Even if you don’t have children, it’s a good idea to document how you want your assets to be distributed after you pass. For further information on this type of a matter, contact an experienced estate planning attorney today.