Every person has their own strong preferences for what happens when they are no longer here. Unless it is in writing on paper and validly witnessed, there is no way of knowing your wishes. Then, you will lose all control over what happens. A probate court will have the final say, and they may make decisions that you may not have wanted.
Drafting a will not only gives you a say in what happens after you die, but it makes things far easier on your family. They will struggle to deal with division of property issues, even when the matter is in probate court. Family relations could be strained as family members fight over assets, making a difficult process even harder.
A Will Is About More than Just Property
Beyond money, you also have firm wishes for how your children should be raised. You would want to name a guardian and specify what the guiding principles should be for their rearing. These could include things like religion and education.
Not only should you draft a will, but you should do it now. Once you need the will, it is obviously too late to draft one. You may not even be able to sign and execute a will once your mental capacity begins to decline. Once you become incapacitated, a will would not be considered valid. These are the exact reasons why you need to consider a will now if you do not already have one. If you do, make sure that it is current.
Contact a Lincolnshire Estate Planning Lawyer
Reach out to the law firm of Chuck Newland & Associates for all of your estate planning needs. You can reach us at 847.797.9300 or message us online to schedule an appointment. This is a call that cannot wait.