Do I Really Need a Will?

Do you already have a will or trust? If so, GOOD JOB, you don't need to read any further! If not, you are not alone and in really good company. News articles have stated Aretha Franklin, Prince, and others have died without a will. I have known a number of attorneys that don’t have a will.

So, you don't have a will what does that mean? The technical term is dying intestate. Sounds scary and it is. Since you didn't take the time to decide answers to some important questions, your friendly state legislature will decide for you. You have almost guaranteed a probate for your estate. Through the probate process, the state statutes will decide:

• Who will get your "stuff"
• Who becomes the personal representative or executor
• What will be published
• What court processes will be required

This is your chance to spare your family and loved ones the time, expense and frustration of going through a very complicated and detailed probate process. You may think it is too costly to have a will drawn up.  Think again. Probate can take anywhere from 3 months to several years.  Think of how those legal bills can rack up!

What should you do? Three simple steps and you are done:

• First, make a list of what you own and who owns it – i.e. the legal title.
• Second, write out your desires for who gets what. If you are married you need to do this twice:
  • You die and your spouse survives
  • You and your spouse die together

• Third, make an appointment with a qualified estate planning attorney

So, what are you waiting for? Take these three simple steps and save your family a LOT of turmoil and expense.