Six Things You Shouldn’t Assume About Legal Will Preparation
Having a legally binding will in place is an important thing you need to do to prepare for the future. Unfortunately, consumers sometimes make assumptions that they shouldn't about legal will preparation that discourage them from having a will prepared.
The following are six things you shouldn't assume about legal will preparation.
You can easily draft your will yourself.
Drafting a legally binding will by yourself is complicated and time-consuming. Consumers who attempt to draft and officialize their own will might end up making mistakes that result in their will being easy to contest.
Hiring a professional to handle your legal will preparation needs is the best way to ensure that your will is drafted and officialized properly.
You don't need a will if you have few assets.
Some people think that wills are only necessary for particularly wealthy individuals. However, having a will is a good idea even if you have relatively few assets that you'll leave behind.
You don't need a will if you're young and healthy.
People of all ages can benefit from having a will. You don't have to be old or sick to benefit from having a will. With a will, you'll enjoy more peace of mind and won't worry about how the division of your assets will be handled if you should experience an accident and untimely death.
You don't need a will if you have a power of attorney.
A lot of individuals aren't aware of the fact that their power of attorney agreement becomes invalid at their death. This means that an individual's power of attorney can't make any decisions on how assets are divided after the individual the power of attorney legally represents passes away.
You should just let your family decide how to divide your assets after you die.
It can be difficult for families to divide the assets of a family member after he or she passes away without a will. Not leaving behind a will can create conflict in your family. It can also make dealing with your death more difficult for your surviving family members.
A will can easily be successfully contested after you die.
Some individuals think that it is not worthwhile to have a will drawn up because they assume that wills are often ignored or contested after an individual passes away. However, a properly crafted will is legally binding and can be difficult or impossible to successfully contest except in very rare circumstances.
For more information on will preparation, contact a professional near you.