What is a Will and Do I Need One?

A will is a legal document that outlines your wishes for how your property and assets will be distributed upon your death. If you have minor children, a will can also state who you wish to care for them. You need a will because without one, your wishes may not be carried out. In the state of Florida, for example, if you pass away without a will, a judge determines how your assets are distributed.

If you die without a will, Chapter 742 of the Florida Statutes outlines how your property will pass. Generally speaking, if you have a spouse and no children, your spouse will receive your entire estate. If you have a spouse and children, your spouse and your children will split your estate. If you have no spouse and no children, your parents, siblings, and grandparents may get some or all of your estate.

Why You Should Have A Will

Every adult should have a will. Wills are not just for the wealthy. If you have a will, you can decide who gets your assets. This means you can also keep your assets away from people you do not want to have them.

As noted earlier, if you have minor children, a will can indicate who should care for your children. Without a will, courts will make that decision without knowing everything you do about the potential parties. For example, if you want to make sure your parents care for your children and not your in-laws, the court has no way of knowing that. Unless, of course, you have a will that indicates as much.

A will can also allow your heirs faster and easier access to your assets since you have already explained who you wish to get what.

Do You Need a Will?

If you are an adult with any property, or if you have children, you need a will. While you can create a will on your own, it is not recommended. Often, online services that purport to draft a will for very low cost do not know all the nuances of your particular situation. Using an online service with no human interaction also prevents you from having questions answered. It may even not be drafted appropriately to reach your goals. And unfortunately, you may never know that your will doesn’t achieve your goals. Only those left behind to administer your estate will know.

What is a Will?

If you need to discuss getting your will drafted, contact a local estate planning attorney today. At Wildoner Law, PLLC, we enjoy helping families set up their wills so that their goals are achieved. We can also continue to work with you as the years go on to ensure your will is always up-to-date. You can schedule a brief telephone call here.