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The Importance of Having a Will

Importance of Having a Will

If you haven’t yet drafted a will, it’s time to schedule an appointment at a law firm that emphasizes estate planning in The Woodlands. Having a will is important for nearly every adult, especially parents who have minor children. An estate planning attorney can draft your will in a way that reduces the possibility of disputes. This can go far in promoting family harmony after your death. Even if you have already made your last will and testament, it’s a good idea to visit your lawyer periodically to update your will as your circumstances change. estate planning

Children
Even if the distribution of your property after your death is not a matter of concern for you, you definitely need a will if you have minor children. If you die intestate (which means without a will) then a judge will determine guardianship for your children. This may not necessarily lead to an arrangement that you would have chosen yourself. Having your lawyer create a will for you is the only way to designate your children’s guardians in a manner pleasing to you.

Children’s Property
It’s common for parents to name their children as beneficiaries for certain assets. However, if you die while your children are still minors, an adult must manage the property. You can use your will to designate a property manager and you can leave specific instructions with regard to how you want the property to be managed.

Pets
Sometimes, an individual’s beloved pets end up in an animal shelter after his or her death. You can prevent this from happening to your pets by using your will to designate a caretaker for your furry or feathery friends. You might also consider leaving money to the caretaker for the care of your pets. Many shelters and animal adoption centers offer plans which allow you to create very unique and satisfying arrangements for your pets should you pass.

Property
People often consider it very important to ensure that specific assets are distributed to certain people after their passing. You can use your will to designate beneficiaries for certain financial accounts, vehicles, and similar assets. If you have family heirlooms, designating beneficiaries for them can be helpful for preventing family disputes after your passing.