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Do you need a Will?

By November 17, 2022Estate Planning, Wills

Do you need a Will?



The answer to that question is yes. If you are an adult who is not destitute, you should have a Will.

In your Will, you specify who gets your stuff and if you have minor kids, who raises them. It makes things much easier for your loved ones to take care of all this if you have written it down in a properly signed and executed Will before you die.

The executor is the person who distributes your stuff according to what you want. Your guardians are who raise your minor children if you have them. If you set up any trusts in your Will, you would have a trustee, and the trustee would take care of the money in the way that you specify. If you have Wills, this all becomes much less complicated when you die.

It makes things so much easier for your loved ones and they know what you want. They’re not trying to figure out like what you would want versus what they have to do because of what the rules are.

If you don’t have a Will, the court system will decide who raises your children and the state rules of intestate succession will determine who gets your stuff. I don’t know that anybody would want that. If you want to have a say in who raises your kids and who gets your stuff, you need to do a Will.

Creating a Will is not that hard. It is not that expensive. It is not that time-consuming. People are relieved and happy when they walk out of here after signing their Will.

Mike Garry

Author Mike Garry

Michael Garry is a CERTIFIED FINANCIAL PLANNER™ practitioner and a NAPFA-registered Financial Advisor. He is a member of the National Association of Personal Financial Advisors (NAPFA) and the Financial Planning Association (FPA).

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