Life is full of surprises and we can never predict what may happen to us. This is the reason why it’s important to plan for the future and make wills before it’s too late. Statistically, people make them in in their 50s; and in some cases, people will put it off until 65 and up. Whatever the age may be, making it is necessary for many reasons.
Following are top 10 reasons to make a will:
- Making a will or trust will ensure that your estate does not pass to unintended beneficiaries.
- Preparing a will may ensure the consideration of the needs and wants of your beneficiaries that are usually the family members or friends of the will-maker.
- It allows you to identify someone as a conservator for your children, thus letting others know whom you wish to take care of your children if you die young.
- With a will, you can preserve your wishes as to how long to prolong your life with artificial nourishment and life support, if you end up in very severe health state and cannot make decisions for yourself.
- If you are remarried, it can allow your children from your first marriage to get a share of your estate.
- In a will, you can execute a medical durable power of attorney that will designate someone to make medical decisions for you if you cannot do it yourself. Besides, executing a medical durable power of attorney allows you to choose beforehand if you would like to donate your organs to someone else or to medical research.
- Establishing a general durable power of attorney will allow you to appoint someone to handle your business affairs without any headaches connected with the court-appointed conservatorship.
- It allows you to leave certain specific items to anyone you want. For instance, it can be jewelry, cash, books, equipment and so on.
- If you are not married but you want your partner to receive some part of your estate, then you should make a will, otherwise, they cannot get anything.
- Not making it can lead to family disagreements and arguments.
These are the main 10 reasons for making a will. Preparing it will provide you with peace of mind to enjoy your life free of burdens of uncertainty. Besides, it makes possible to complete your plans concerning your estate, family, and friends.