Wills are often seen as a something that only comes up when an elderly person passes away. Because of this notion, many people think that a will is something they’ll only need to worry about decades from now. However, even young adults can benefit from currently having a will.
The Charleston Gazette-Mail’s recent article entitled “Don’t have a will? Now might be the time to change that” explains that having a will provides you with a layer of security for your family.
The process of drafting a will itself is pretty simple. A person can get a sense of comfort knowing that their final wishes and requests will be known and respected.
The creation of most wills starts with a person contacting an estate planning attorney. He or she will usually send them a questionnaire to complete that asks about the spelling of their names and those of family members, as well as the items and properties they want to list. Once the attorney has that information, the client and the attorney meet to talk about the goals of the client. The attorney will get back to the client in a few weeks with a draft or estate plan. After a review, the client returns to execute the document before witnesses and a notary.
It truly is important for young people to have wills, especially those who are unmarried or have children. If you have young children, your will states the guardians for your children.
If a parent without a spouse doesn’t name a guardian in a will for their child, the court will make a selection.
Estate planning attorneys usually charge a flat fee for a drafting will. While there are alternatives to the traditional process, going online to find a will-making program isn’t recommended, especially if you have a complex estate. These should be left to estate planning attorneys who understand the ins and outs of the law. However, even for a Regular Joe, most experts say to avoid these sites entirely.
Do-it-yourself will websites could end up costing you or your estate a lot of money, because they often result in litigation. Some of these websites can cause errors in the drafting of a will. This leads to litigation costing far more money than it should have, if the client had simply drafted the will with the help of an attorney in the first place.
Death is an uncomfortable topic for many people. Many people don’t know what options are available, and they’re often scared to ask. However, with COVID-19, people are beginning to realize the importance of a will and a complete estate plan.
Reference: The Charleston Gazette-Mail (Aug. 23, 2020) “Don’t have a will? Now might be the time to change that”