The Importance of Having a Will
Many people think that wills and estate planning are only for the very wealthy, or for much older people. However, the truth of the matter is that having an up-to-date will is a responsible idea for most adults. Having an experienced North Carolina estate planning attorney to draw up a will gives you the peace of mind that comes from knowing your wishes regarding your estate, your children, and other surviving loved ones will be addressed in a manner you’ve designated. Below are four important reasons further illustrate the need to possess an up-to-date will.
Reason 1 – To Appoint Your Children’s Guardian
Drawing up a will gives you an opportunity to appoint a guardian for your children, should you and the other parent pass away while they are still minors. Rather than leaving it to the state to decide, a will allows you to designate a guardian you know will love them and care for them in your absence.
Reason 2 – To Protect Your Business
If you own a business, you don’t want to have put in hard work and investment only to have the business dissolved upon your death. You can directly address this issue in your will by clarifying whether you leave control of your business to your heirs or to a business partner who will continue running it after you are gone. A will is the best way to ensure the continued success of your business.
Reason 3 – To Divide Your Assets
The generic inheritance rules of North Carolina are just that – utterly generic – and will not address any of the uniquely personal aspects of your assets’ distribution. If you are married, certain fundamentals of inheritance can’t be overwritten, but you’ll have your own personal say beyond the basic parameters. Without a will, for example, none of your possessions would go to a non-relative. A will allows you to leave things of a uniquely personal nature or otherwise to any of the following individuals:
- Close friends
- Distant relative
- Charities that are near and dear to your heart
Reason 4 – To Help Your Loved Ones Move Forward
A will provides a roadmap for your loved ones to follow. This document is not only an opportunity to demonstrate how much they mean to you, but it also takes the burden and stress of estate planning off the shoulders of grieving loved ones and ensures that they won’t need to resort to haggling and arguments at a very difficult time.
Work Closely with an Experienced North Carolina Estate Planning Attorney
The dedicated estate planning attorneys at King Law Firm in North Carolina are committed to helping you draw up a will that succinctly addresses the planning of your estate now and into the future, as well as ensuring the lasting effect of your legacy. For more information, please don’t hesitate to contact or call us at (800) 635-1683 today.