You may have had family members or friends talk about their will. It may not have been a long conversation because wills are very personal to each individual. So, you may not know what the purpose of a will is or why you need one.
What is a will? A will is a legal document that is part of your estate plan. Your will carries your last wishes. There are a few questions you may need to ask yourself as you prepare your will, including the following:
What do you intend to do with your assets?
After you pass away, your estate may be left to your family. If you do not have a will, you’ll have died intestate, which means the state is responsible for distributing assets to your heirs, which can include your next of kin.
If you want to make the distribution of your estate personal and thoughtful, you can make a will to decide how your estate is managed. You can name beneficiaries in your will who can inherit your assets. By naming beneficiaries, you decide who should have a right to your estate. Beneficiaries can include family, friends or colleagues.
Do you have plans for your future health care?
An estate plan can do much more than decide how your assets are managed. You can plan for your future health care. By naming a power of attorney, you can decide who can act on your behalf if you can not do so yourself. A power of attorney can be responsible for making decisions in your best interests, such as putting you in a healthcare facility, allowing medical professionals to perform surgery or taking you off of life support.
There is so much you can do with a will. You can learn about your estate planning options by reaching out for legal help.
