Everyone should have a Will that gives instructions on distributing your assets to those individuals or charities that you wish to leave them to. It is the cornerstone of your estate plan.
- Without a Will, your possessions, money and property, will be distributed by the state and the percentages given to your legal heirs will be determined by law.
- If you intend to leave property to someone other than a legal heir, such as a domestic partner or a friend, or provide for a beloved pet, a Will is necessary.
- Many people underestimate the worth of their estate and aside from the financial aspect of a Will, instructions relative to other items like your requests regarding funeral plans or guardianship for minor children can be spelled out. Having a Will ensures your intentions and desires are honored.
Other documents that can be prepared in a Will-Centered estate plan include health care planning documents and power of attorney.