The Importance Of A Valid Last Will And Testament
One thing that a lot of people tend to put off doing is having a valid last will and testament drawn up. Some people don’t want to be reminded of their own mortality. Others don’t like paperwork. And still others are not really thinking of their last will and testament because they are convinced they won’t need one for a very long time. All of these viewpoints have one thing in common. They are ignoring one simple fact.
Having a valid last will and testament drawn up is one of the most important things you will ever do. With a valid will you will have a say in how your possessions and assets are distributed once you are gone. You will be able to provide for any and all family members in a valid will, and you can also make arrangements to close out your affairs in this lifetime.
One thing a lot of people say is, “Why do I need a will or last testament? My family can do whatever they want with my things after I die.” While this is an understandable sentiment, it is not true. When you die all of your property and assets are combined into what is called your estate. Your estate is legally required to take care of any unpaid bills, and also usually covers final expenses.
It is important to have a valid last will and testament at this time because once the estate has been inventoried; it goes into what is called “probate,” or “probate court.” This court decides how your assets will be distributed. If there is a valid last will and testament available, the probate court is legally obligated to carry out your final wishes. If there is not a valid will present, then the probate courts decides who gets what out of your assets and earnings.
Contrary to popular opinion, you cannot just scribble out your final wishes on a piece of paper and have that be your legal last will and testament. There are procedures to be followed when it comes to drawing up the actual will and dividing up estate assets. Witnesses are also required to make a last will and testament legally binding.
The legal requirements for creating a valid last will and testament vary from state to state. If you don’t know what is required in your state, there are several places you can go for help. You could consult with a probate lawyer, or you could choose to visit the law library that is closest to you. You could also look up what you want to know on the Internet, but when it comes to the actual paperwork, it is usually best to deal with in person.
To sum it all up, if you don’t have a legally binding will and last testament when you pass on, your assets and earnings will be distributed by a probate court. This means your things may not go to your children. A valid last will and testament leaves no doubt about what is going to happen after you pass on. Don’t delay, draw one up today.
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