At What Age Should I Prepare My Will?
If you are an adult and have assets that you would like to pass on to someone specific upon your death, you’re at a good age to prepare a will. What we’re trying to say here is that, as long as you are at least 18 years old and you are thinking about a will, you’re at the right age. While it’s very likely that you will live a long, productive life, preparing a will can provide you with the peace of mind that comes from knowing you are accounting for every possible eventuality. Further, your will is not set in stone, and it can and should evolve right along with your estate and your life. If you’ve been toying with the idea of a will, consult with an experienced North Carolina estate planning attorney today.
If You Have Young Children
If you have children – especially if you are a single parent – you need a will to ensure that you are in charge of who their guardianship will pass to in the unlikely event that you die before they reach adulthood. If custody isn’t established via a will, the matter will be decided by the court, and your children’s ongoing welfare and well-being are much too important to leave to the court’s discretion.
Minimizing Frustrations and Costs
Creating a will now helps to ensure that your loved ones will receive the benefits you’ve bequeathed them in a timely manner. If you have no will, your assets will be distributed according to the laws of intestate succession, which likely will not reflect your wishes. By executing a will, you can ensure that your wishes are honored and save your family time and stress.
Every will is personal and unique to its author, but there are certain other common considerations that may also encourage you to create a will sooner rather than later, including:
- A will puts you in control of your estate.
- A will allows you to name your own executor.
- A will allows you to disinherit someone who would otherwise be in line to inherit.
- A will allows you to make gifts and donations that are important to you and that – up to a specified amount – are tax-free
- Because the future is not guaranteed, a will helps ensure that your affairs are taken care of in the event of a tragedy.
It’s Time to Consult with an Experienced North Carolina Estate Planning Attorney
The experienced estate planning attorneys at King Law Firm in North Carolina are committed to helping you better understand your estate planning needs and to help you create a will that works for you today – and that will evolve with you into the future. We’re on your side, so please don’t hesitate to contact or call us today.