You likely know the basics of what a last will and testament is, but you might not know whether it is something you need. Many people assume that wills are documents meant for the wealthy or older adults who are nearing the end of their lives. However, the reality is that every adult should have a will in place for a variety of reasons.
In Illinois, anyone age 18 and older can have a valid will. There are other requirements that need to be met, including having the will in writing and properly signed and witnessed. You might wonder, however, why someone that young needs a will, especially if they do not have a lot of property.
Everyone has some property, even if it is personal property or a vehicle. When you pass away, your estate will need to go through the probate process, even if it follows a simplified small estate process. If there is a will, the judge will review the document and, if it is valid, will base the process on the will. If there is no will, Illinois law will dictate how probate proceeds.
Even if you have little property, it makes probate significantly easier on your loved ones if there is a will to submit to the probate court. You can designate a personal representative in the will, which means the court will not have to choose someone to serve in this role. If you get married or have a child, it is essential that you have a will in place as soon as possible.
Learn More from a Libertyville Estate Planning Attorney
The short answer is that everyone over age 18 can benefit from having a will, and an estate planning lawyer from Charles T. Newland & Associates can help. We have locations in Libertyville, Rolling Meadows, and Lincolnshire, so please contact us for more information today.