Everyone knows that they should have a will, but knowing and doing are two very different things. Over half of all Americans don’t have a will. The 2011 EZLaw Wills & Estate Planning survey reported good intentions but far less action. About 75% said that if they could do a will online, quickly and easily, they’d do it. These same people have no problem with going out to eat or to get a haircut, yet can’t be bothered to leave the house for something that would have lasting benefits for those they love.
People usually say that they don’t have a will because they’re just too busy to think about it right now. Perhaps, but the real reason is more likely a reluctance to face the fact that none of us are immortal. As the old saying goes, “They still make buses.” Young adults (18-34) often pay more attention to their weight than their money; they also tend to think that they are invulnerable and will worry about wills ‘later’.
Probate is the process for legally transferring assets after someone dies. A valid will makes the process easy and inexpensive. Without a will, the court will appoint someone to manage the estate that will have to be paid by the estate. Remaining assets will ultimately be distributed to the heirs, but almost surely will not be done as the person would have wished. If someone wishes money to be left to friends or charities, it will not happen without a will. Another consideration would be to think about how children over 18 or 21 would act if they suddenly had a big check. Would it go to college or a shiny, red sports car? Trusts can ensure that inherited money is used for the designated purpose.
The law office of Michael D. Sanger is small enough to provide personal attention to every client and big enough to effectively represent them. The firm focuses on estate planning, probate and wills. They offer their clients the advice and knowledge needed to keep assets within the family. If you need to Find a Local Wills Lawyer, schedule a free consultation and find out how they can help your family. Browse their website at Michaelsangerlaw.com for more information.