Many people put off creating a will as they believe they don’t have enough assets or are too young to begin planning. Additionally, many make the assumption that they can simply write their will themselves. After all, it’s just detailing who you want to receive what assets, right? This is a common misconception. The importance of ensuring you have experienced PA wills, trusts, and estates attorneys to help you through this process is critical. Keep reading to learn why you should not try to create a will on your own.
What is a will?
A will is often referred to as one of the most essential estate planning documents, as it details what you would like to happen to your assets upon your passing. Generally, you will list the entirety of your belongings, including personal property, real estate, bank accounts, and investments, before determining which beneficiaries you will leave each asset to.
Additionally, you’ll include an estate executor. This person is appointed to oversee and manage the distribution of your assets. It’s essential to ensure you choose someone responsible for this process.
Finally, you can include terms and conditions for how you would like your minor children cared for, such as naming a guardian to assume responsibility for your little ones in the event anything should happen to you.
Should I write my own will?
Just because you can write your own will doesn’t mean you should. Many people choose this route in the hopes of saving a little bit of time and money. Unfortunately, several websites out there have “do it yourself” templates, which lead many to believe this process is much easier and simpler than it actually is. However, these templates and guides are not always state-specific, meaning the language in these documents may not be valid in your state. As such, you may discover that your will is deemed invalid, resulting in your wishes being unfulfilled.
Additionally, if you try to create a will on your own without understanding what needs to be included in these matters, you may accidentally leave important information or assets out. The last thing you want is to forget to name a guardian for your children, for example, meaning they could end up in the care of someone whom you have not chosen.
What should I do if I want to start estate planning?
If you want to start planning your estate, ensuring you connect with an experienced attorney to help you through these matters is critical. At Friedman Schuman, we understand how complex and daunting will creation can seem, which is why we’re ready to assist you through these complicated times. Our team can help you navigate these matters to help you achieve peace of mind that your loved ones will be cared for in the event you should pass. Contact us today to learn how we can help you.
