The Most Important Reasons to Create a Will
A will is a critical component of estate planning, which allows you to distribute your assets to the people of your choosing, after your death. Without a legal will in place, your estate may fall into the complex legal process known as probate, which can cause your relatives and friends a lot of frustration, especially while grieving. To ensure that your assets are allocated according to your wishes, it is important to create a will and here’s why.
- Protect your business: When you own a business, and you want it to continue to thrive even when you’re gone, it is critical to establish a will and designate who you would like to run the business, whether that is a family member or a co-owner. Sadly, many family or privately-owned businesses fail when an owner passes away suddenly, without an estate plan.
- Distribute your property and assets: From saving accounts to the family home, you should have the ability to designate which members of your family will have access to your assets and property. Without a will in place, the courts may decide who receives these items, and they rarely have provisions for friends or members of the community. To ensure that your wishes are honored, it is important to create a will.
- Appoint a guardian for your children: If you should die suddenly, and your spouse is unable to care for your children, the state will nominate guardians for them. Ultimately, you know who is most qualified to care for your children, so it is imperative to create a will and nominate the most suitable person to be your children’s guardian in your absence.
- Make a charitable donation: If you wish for a charity to receive money from your estate, a will gives you the opportunity to allocate funds for a charitable donation.
Do you want to work with a knowledgeable and compassionate estate planning attorney in San Jose? The legal team at Scire Law is experienced in will creation, and we are here to give you peace of mind. Contact us today to request your free consultation.