5 Reasons Why You Should Have a Will
- Provides your written direction of what happens with your assets at time of death.
- You appoint trusted individual to handle your assets after your death.
- Provide plan of succession for executors or asset recipients that may not survive you.
- In the event probate becomes necessary, you can waive the bond requirement or surety on the bond, saving estate expenses.
- Ensure family heirlooms or collectibles will not be sold and distributed to those you want to receive them.
5 Reasons Why You Need a Power of Attorney for Health Care
- Appoint agent to make critical health care decisions when you are unable to do so.
- Provide for donation of organs after death.
- Allow access to medical records to agent.
- Provide for disposition of your remains after death.
- Appoint Guardian in the event you become disabled.
5 Misconceptions About Wills
- If I have a will, my estate will not go through probate.
WRONG: Whether your estate gets probated depends on the value of assets that you have in your name only at time of death.
- If I have a will, I am fully protected.
WRONG: Your will provides no protection during your lifetime. It takes effect only at death.
- If I have a will, I have provided for the handling of all of my assets at death.
WRONG: Your will only controls assets in your name only at time of death. It has no affect upon assets in joint tenancy, trust, or other means that provide right of survivorship.
- I don’t need a will until I get older.
WRONG: No one lives forever. Accidents occur all the time. Dying without a will, may create big problems and expenses for your loved ones that survive you.
- I did a will on-line so I have things covered.
WRONG: Many on-line documents are not prepared consistent with the laws in the state of your residence and may not be valid.
If an on-line will does not contain proper provisions, required by your state or is not properly witnessed, it may not be valid or enforceable.