A will is, for many people, the basis of the estate plan. It's the first document they draft. It may be all that they think they need.
You know that you need a will, and you know that it is best not to put off writing it. However, you also feel like you have decades left -- barring an accident or something else unexpected -- before your heirs will need to use that will.
When you cut someone out of your will entirely, it's known as disinheriting them. They get nothing from your estate. It's a drastic step, but one that some parents opt to take.
A holographic will is fairly simple. You create the document by writing it out yourself. You then sign it to show that you stand by what it says and that it reflects your wishes.
As the name implies, a deathbed will is a legal document drafted when you know that you will not recover from an injury or a disease. The medical professionals tell you that death is imminent and it's just a matter of time.
You think you have decades before you'll need a will, so you don't bother to write one. Then you pass away in a car accident far sooner than you assumed. You've now passed away without an estate plan, so what happens to your estate?
It's easy to put off writing a will. You feel like you have a lot of time to get it done, the legal process can be confusing and you think you'll be better prepared when you're closer to the end of your life. These are just three potential reasons, but people can give you nearly an endless list of reasons they haven't written a will.
Human relationships can be endlessly complicated -- especially among families. As unpleasant as it may be, you may have some very good reasons to disinherit a potential heir.
You could shop around online and find a cookie-cutter will template. However, that is a very big risk. Many estate planners have made significant mistakes when creating a "do-it-yourself" will or trust document. There are just too many things that can go wrong, and too many headaches and costly expenses that your family will have to endure if you make a mistake. It's worthwhile to rely on the experience of an estate planning attorney to ensure that you draft a sound and valid will.
If you're a person who loves having pets, the last thing you'd want to see is your pet being mistreated or left alone after your death. Whether you have horses, dogs, cats, fish or other animals, it's a good idea to include them in your will.