On October 10, 2014

Here is the conclusion to our blog series Top 7 Reasons to Create a Will.

Additional Reasons Why You Should Create a Will…

Reason 5 – You can minimize potential headaches and challenges your loved ones may face after your passing. 

The best reason to create a will is that you don’t know what tomorrow can bring and having a will can ensure that your loved ones are protected in the future.

The best reason to create a will is that you don’t know what tomorrow can bring and having a will can ensure that your loved ones are protected in the future.

Although most estates will end up going through probate regardless of whether a will is in place or not, having a will can significantly reduce the potential issues, costs and length of the probate process. This is because, when you create a will, you outline your wishes for your assets, etc. and, consequently, probate may only be needed to resolve any outstanding debts against an estate (if any exist).

Given the fact that your loved ones will likely be grieving after you pass away, doing what you can now to reduce their possible stress in probate can be exceptionally helpful to them in the future. In the worst cases, the lack of a will can mean that probate ends up consuming most or potentially all of an estate’s assets and that, as a result, the beneficiaries don’t end up getting any of the assets the decedent had planned for them to receive.

Reason 6 – You can specifically make sure that certain relatives don’t lay claim to your assets after you pass away.

Just as your efforts to create a will can provide for certain beneficiaries, they can also exclude some potential beneficiaries from trying to get their hands on your assets after your death. This can be very important in cases when people may have had falling outs with specific family members or others and want to be sure that these other people don’t try to stake a claim in the estate’s assets in the future.

In the event that a person has not taken the time to create a will and that person passes away, it’s quite possible for people whom the decedent does not want involved in the distribution of assets to come forward, start disputes and create trouble for the true beneficiaries of the estate.

Reason 7 – The future is uncertain, but the matters related to your estate don’t have to be.

The bottom line is that you can never fully predict what tomorrow may bring and that taking time to create a will can be pivotal to protecting your loved ones, as well as your assets and estate, in the future. While you can, of course, revise your will once you have it in place, not having a will at all can end up costing your loved ones unnecessary and excessive stress and money in the event of your untimely passing.

Denver Estate Planning Attorneys at JR Phillips & Associates, PC

Are you ready to create a will? If so, you can rely on the estate planning and wills lawyers at JR Phillips & Associates, PC. We provide a thoughtful, comprehensive approach to our clients’ estate planning, elder law and other legal needs, and we take pride in providing them with the highest quality legal services at affordable rates.

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Let’s discuss your options during an initial consultation. To schedule this meeting, call us at (303) 741-2400 or email us using the contact form at the top of this page.

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Categories: Estate Planning