There are plenty of reasons to write a will, and maybe you’ve mulled over a lot of them already. You have significant assets that you need to sort out. Your children want to know what they should expect to inherit. You want to figure out what the tax burden of your estate looks like. You’re a business owner and you need to decide what to do with the company.
These are all good reasons to think about estate planning, but sometimes you just need to focus on the simple things. For example, remember that writing a will gives you peace of mind.
Without a will, you leave the door open to disputes and arguments between your heirs if they do not agree on what you would have wanted. You may also risk losing some of your estate by not planning and allowing it to go through probate so that the law decides what to do. You don’t know for sure that everything you’ve worked so hard for is going to smoothly pass on to your kids.
With a will, you can just relax and rest assured that your wishes are known. Your assets will go where you want. Everything is accounted for. Your heirs will be provided for, and you have done what you can to limit the chances of disputes that create life-long rifts between them. You’ve put your family in the best possible position, and that gives you peace of mind.
When you do decide to sit down and draft a will, be sure you know exactly what legal steps to take.