Need for a Will

By: Financial Shopper Network

    Everyone should  have a written will. When no will is written, chaos can often occur. One of the most important steps, when writing a will, is deciding who should be the executor of your estate.

    The will is a legal document that explains and directs how the assets in your estate should be dispensed. Choose an executor of your estate, who will respect your wishes and distribute the assets as intended. Have a back-up executor listed in your will, just in case the one chosen is unable to perform the task.

    If a person dies without a will, they are said to die, intestate.  No matter what age you, death is possible, so it is important to plan now, while you still have time. You can file your will at your statehouse, filing cost may be a few dollars. Otherwise your family may have a major  problem. Not the mention, the possible disagreements that could arise,  before the issue goes to court. Families have become bitter enemies over their stakes of claim over inheritance. The court will step in and create a will for you. Also, the judge may name an executor the estate, who does not carry out your unknown wishes. Your family may not receive as much money, because of  extra probate costs, charges to the estate by the executor, and the judges' judgment.

    The enormous cost of not having a will is not worth it. You may be exposing your family to many days in court, and the possibility of arguments over how the assets should be distributed. A will does not cause a lot of money, to have a lawyer draw it up. However, if you do not have the money, a will kit can written and filed with the state.