Most Americans prefer a root canal or taxes over preparing a will. And while laying out your final wishes can be difficult, it’s probably not as miserable as you might imagine. In fact, it is one New Year’s resolution that you can accomplish now.
Having a will saves your loved one’s considerable time, money, and heartache during an otherwise emotional time. By achieving your resolution, you set up a plan that ensures your desires are accomplished and your family protected. Anyone over the age of 18, who has a job, bank account, children, or property of any kind, needs to have a will. It does not require a large estate to warrant setting up a plan.
A will is a legal document laying out your wishes about the distribution of your assets in the event of your death. Without a will, courts distribute your assets according to state regulations and their discretion. This means that the government decides what happens with the items you worked your whole life to get, and even decides who should get them!
There aren’t too many people who want this to happen.
A significant reason to create a will is to control what happens to your assets after you die, and to ensure that your family is cared for after you are gone. You may want to set aside specific assets for specific people, ensure your children are well cared for, or even omit a family member you don’t get along with.
Without a will, none of this will be achieved as you want it to be done.
If you already have a will, remember that it isn’t something you set up and never look at again. Instead, it needs to be reviewed regularly. In fact, reviewing your will annually to see if anything has changed is best. The New Year is a great time to do this. Your assets, preferences, and relationships change over time, and your will needs to be updated to reflect any new information or desires you may have.
Remember, if you don’t do it, the government will decide for you.
Most resolutions fail quickly. But getting your estate affairs in order is a goal that you can achieve in 30 days or less.
Start this process with a simple phone call. Contact The Jaeger Firm, PLLC, today at (859) 342-4500 to start your New Year off well. The Jaeger Firm is ready to serve the Northern Kentucky/ greater Cincinnati community.
You will get peace of mind and the security in knowing that your family is protected and cared for should something happen to you unexpectedly. Your family will thank you for it; after all, this resolution not only lasts for your lifetime, but can impact theirs as well.