Myth: You only need a will if you have a lot of money or property.
Fact: There are many important reasons to have a will. Deciding where your assets go is a big part of a will, but there are many other decisions you can make like:
- nominating guardians for your minor children
- naming caretakers for your pets
- leaving gifts to the charities you love
- leaving instructions for digital assets
- writing your funeral wishes
- and more.
Perhaps most importantly, a will can save your loved ones the time, money, and stress of lengthy, expensive probate court proceedings.
Myth: My family knows what I want, so I don’t need a will.
Fact: While this may be true, your family won’t have the ability to make any decisions for you without a will. If you die without a will in place, the court will make all the decisions about your estate based on local laws. Additionally, the process can be long and cost lots of money out of the estate.
Myth: Writing a will is complicated and expensive.
Fact: This does not have to be the case! There are several online tools available to make a simple will. For example, FreeWill offers an online tool where you can create a free Revocable Living Trust. Going to a lawyer to create a trust does not need to be a burdensome process either. The more complicated your assets, the more time it may take to craft the right plan, however you will also reap the benefits of these professionals’ experience and expertise to create a plan that fits your exact needs.
While you think about the distribution of your assets after your lifetime, we hope that you will consider supporting the charities and causes that have touched your life and heart throughout your life. If you would like to discuss legacy gift ideas, the Foundation is here to help.
Creating a will is a task easily left for tomorrow – but don’t be one of the 55% of Americans who die without a will! Take action today to protect your assets, wishes and family members.
Source: https://resources.freewill.com/make-a-will-month-marketing-tips-for-planned-giving