Drafting a will is something that people put off for many reasons, not the least of which is that they do not want to deal with some of the thorny issues involved. However, the cost of not having a will can be something that your loved ones have to bear when you are not here. Accordingly, “now” is always the best answer to this commonly asked question.
So long as you have a positive net worth, you need to have a will. The same is true whether or not you have children. The last thing that you want is to lose complete control over how your assets are distributed after your death.
Wills Are Even More Important with a Family
If you have children, there is even more of an urgency to have a will. This document will state your preferences for who will be the guardian of your children and how they are to be raised. It will also specify which of your children receives what property.
There is no such thing as an average age to write a will because age has nothing to do with it. The need for a will depends on your own situation. Think of it more in terms of finances and beneficiaries than about a specific age number.
Not only must you draft a will, but you need to consider revising it when you have major life events. This includes things like:
- Marriage or divorce
- Having children
- Starting a business
- Financial windfall
- Changes in your own health
A Lake County and Lincolnshire Estate Planning Attorney Can Help
The attorneys at Charles T. Newland & Associates can help you with drafting and revising your will as part of your overall estate plan. Contact a lake county or Lincolnshire estate planning attorney online or call us today at 847.797.9300 to discuss your estate plan. This is a call that cannot wait.