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Posted by: Maricopa Lawyers on Aug 5, 2014

While nobody wants to sit down and think about what they will be leaving behind after they’ve passed away, it is still one of the most important things anyone can do. Deciding who will be in charge of your finances and possessions after you die may not be the most fun conversation, but it will save your family and loved ones a huge headache in the future.

Most people assume that a will or living trust is something that only the elderly need to be concerned about. In reality, it’s something you should sit down and establish as soon as possible.

Here’s a brief list of reasons why everyone needs a will (via Barker Gotelee):

  • A will saves inheritance tax on your own and your partner’s estate
  • A will protects your estate for your children, even if they are from a previous relationship
  • A will designates guardians for your children
  • A will helps your business continue to function and grow
  • Having a will allows someone the right to continue to live in your home
  • A will also allows you to exclude a certain individual from receiving any of your money or possessions.

Another very important reason why everyone needs a will is that without one, the state you live in has the ability to decide what happens to your belongings. In most states, your possessions will go to your spouse and children. Without a will, however, you may not be able to distribute your wealth as you may have wished.

Having a written will can help save your survivors an extreme amount of time and money. Find an attorney that can assist you in creating your will today.