Have you been avoiding the estate planning process because you simply didn’t think you needed it? No matter the size of your estate, there’s a good chance that you and your loved ones could benefit from a basic will. Overlooking this aspect of estate planning, for which the basic will is often a cornerstone, could be a huge mistake.

A will is a critical legal document that communicates to all interested parties including your family members your intentions about the distribution of everything that you own as well as the raising of your kids. Unfortunately, however, too many Americans simply do not have a will. It is also a possibility that the new president-elect will be abolishing the estate tax.

However, regardless of what changes may be coming down the pipe with regard to your estate planning, there are still 5 major reasons that you should consider incorporating a will as the most basic document of your estate planning designs. These include:

 

  • Guardianship of your children

 

  • Administration of your affairs

 

  • Specific bequests that you wish to leave behind to a particular person

 

  • Efficiency and protection

 

  • Advanced medical directives

 

Set up a consultation with an experienced estate planning lawyer in Pasadena today to learn more.

Comments are closed.