Do you have a case of unrelenting procrastination when it comes to creating or updating your will?
If so, you are not alone. Many people put off planning for their affairs after they are gone. You are here now, and you are healthy. Why rush? While this may seem like a compelling argument, putting things off can only make the future more uncertain. If you unexpectedly pass away without a will or with an outdated will, the probate process can become complex and even hostile in some cases for your loved ones.
Read on for a few compelling reasons as to why writing your will early on can be advantageous.
You decide where your assets go
When you create your will, you decide where your assets end up. Without a will, the state of Florida will decide. According to Florida’s intestate succession laws, decisions regarding your assets are then left up to the state. While the state will generally look at your spouse and children as first in line to inherit, you may still have preferences for certain assets.
You decide who will raise your children
Again, you are leaving decisions that affect your children’s future up to the state if you die without a will. A judge decides who becomes the guardian of your children if you and your children’s other parent die without officially naming someone.
You lose the chance to talk with family members and friends to determine who can provide the love and support your children deserve. Even when a loving relative does volunteer to step into the role of guardian, that person may not have the values you wish to instill in your children.
You help your family through a difficult time
Emotions are high in times of death, and many people are very sensitive. Not having a will can further complicate the probate process in an already troubling situation. If your loved ones lose you unexpectedly, the financial matters you leave behind could become extremely difficult for them to handle, especially if disagreements arise.
The importance of keeping things up to date
While creating your will is a necessary first step, keeping this will updated and current is also important. It can be helpful to revisit your will every few years and especially after a substantial life event, like a birth, adoption, marriage, divorce, death of a loved one and more.
Having a will, and an updated one at that, can give you peace of mind in knowing that your loved ones will be taken care of upon your passing. Put an end to procrastinating and take action to protect the people you care about most.