A Will (formally called a Last Will and Testament) is a legal instrument that disposes your assets after your death. Without a properly drafted Will, state laws will determine how your assets are distributed and to whom they are distributed. In addition, a Will names a guardian to care for your minor children and a caretaker for your pets.
Currently, almost two-thirds of American adults do not have a will.
Most people believe they do not have time to do create planning documents or that they do not have enough “wealth” (needing “wealth” is a common misconception). However, all adults, especially with children, should have a will or trust.
Here are just a few reasons.
1. Protect your loved ones.
2. Protect your legacy or those that need your support after your death.
3. A proper will can mean the difference between a smooth asset transfer and a probate nightmare for your family.
Bear in mind, a Will is a single component in a comprehensive estate plan. Other necessary documents include an Advance Health Care Directive, Power of Attorney and, oftentimes, a Revocable Trust. Our skilled and experienced attorneys at Goldfarb & Luu can assist you in creating a legally viable Will along with other needed documents to ensure that you and your family have peace of mind.
Contact us today. We can discuss your situation during a complimentary consultation!