“Why do I need a will?” It’s a question we all end up asking ourselves at some point. There are lots of reasons it can be difficult to make plans for what will happen after we pass away. However, creating a will is one of the kindest things you can do for the people you love.
What Is a Will?
A will is a legally binding document that provides important information to your loved ones after you pass away. There are lots of different types of wills, and all of them offer different levels of protection and enforceability. The most secure type of will is a testamentary will, more commonly known as a last will and testament. This is a document that explains what a person would like to have done with their estate after their death. It is signed in the presence of witnesses to ensure its accuracy. You can create a will yourself or with the advice of a lawyer. If you have a particularly complex estate, however, it is highly recommended that you seek the advice of a lawyer.
Why Do I Need a Will?
Contemplating the question “Why do I need a will?” is uncomfortable for many reasons. The most obvious one is that it acknowledges the inevitable. We do not know when or why we will pass away, only that it happens eventually to all of us. It’s more comfortable to ignore this, but by ignoring it, we’re actually giving up the chance to make sure things are handled correctly when we pass away. If you die without a will, the state will decide who gets all of your assets. So, if you care about what happens to your belongings and assets after you pass, a will is a necessity.
Protect Your Family
It’s hard to think about what will happen to the people you love after you’re gone. Thinking about it now, however, will help you ensure that they are cared for no matter what happens next. The main thing a will does is make sure that your family and loved ones have clear guidance about what should be done with your assets and obligations after you pass. It also will simplify the process of settling your estate for your living relatives, allowing them to avoid the complications and expense of a drawn-out legal process.
Handle the Unexpected
You may think there’s no point in a will if your financial picture is simple, but are you sure you know everything? If unexpected bills or financial assets are discovered after your death, the executor of your estate will have the power to resolve those issues. If you don’t have a will in place, your friends and family may be drawn into a long court process to determine who gets what.
Help Your Community
Many people don’t realize that they can make a contribution to their favorite charity as a part of their estate planning process. If you’re one of the many seniors that makes volunteering a regular part of their routine, consider how a donation from your estate could help the cause you care about after you pass. Even a small donation can make a huge difference, and you’ll feel good knowing that you’re helping a meaningful charity.
“Why do I need a will?” The answer is simple. It protects the people you love, it provides for the unexpected, and it has a positive impact on your community. Don’t let anxiety about the process prevent you from having the peace of mind a will can provide. Get started today!
At Springhouse Village we know how important it is to enjoy your retirement in a lively and welcoming environment. We make it easy for our residents to be active participants in our community. Whether that means encouraging residents to join an exercise class or assisting them in starting a garden club, we strive to help our residents thrive. To learn more about the amenities and services we offer, contact Springhouse Village today.