Does a ‘Will’ Really Pay Off?

Orange City Iowa Estate Planning

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A will itself is a legal document that describes the process of splitting up one’s personal property and possessions among family and loved ones.

last will and testament

Wills are often seen as a something that only comes up when an elderly person passes away. Because of this notion, many people think that a will is something they’ll only need to worry about decades from now. However, even young adults can benefit from currently one.

The Charleston Gazette-Mail’s recent article explains that having a will provides you with an extra layer of security for your family.

The drafting process itself is pretty simple. A person can get a sense of comfort knowing that their final wishes and requests will be known and respected.

The creation process starts with a person contacting an experienced estate planning attorney. He or she will usually send them a questionnaire to complete that asks about the spelling of their names and those of family members, as well as the items and properties they want to list. Once the attorney has that information, the client and the attorney meet to talk about the goals of the client. The attorney will get back to the client in a few weeks with a draft or estate plan. After a review, the client returns to execute the document before witnesses and a notary.last will and testament

It’s especially important for young people who are unmarried or have children to have wills. If you have young children, your will states the guardians for your children.

If a parent without a spouse doesn’t name a guardian for their child, the court will make a selection.

Estate planning attorneys usually charge a flat fee for drafting a will. While there are alternatives to the traditional process, going online isn’t recommended, especially if you have a complex estate. These should be left to experienced estate planning attorneys.

In fact, attorneys can make a lot of money from these do-it-yourself legal websites.  Some websites create errors during the drafting of the will which leads to litigation. Law firms make far more money off the mistakes of diy wills than if you went and saw them in the first place.

Reference: The Charleston Gazette-Mail (Aug. 23, 2020) “Don’t have a will? Now might be the time to change that”

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