The estate planning process is something many people put off doing. It is believed that half of all Americans do not have wills. It is understandable. No one really wants to think about their own death or the death of a spouse or other loved one. However, for those residing in Massachusetts and elsewhere, failing to at least have a will in place will only hurt loved ones in the end.
Why do wills matter? Well, a will is a legal document that allows one to express his or her final wishes. It allows one to have a say in how assets are to be divided among those designated as heirs, thereby helping to prevent family arguments. Most importantly, it is a way to make sure loved ones are taken care of financially and physically in the event of one’s death.
How does one get started in the will making process? Before one can create a will, it is first necessary to know what is owned and what needs to be included in the will. Accordingly, itemizing property is a good place to start. After a list is completed, it is time to consider who will be the heirs and how the property will be distributed.
There are various ways in which wills and estate plans can be written. This, of course, can make the whole process confusing. An experienced estate planning attorney can help, however. By seeking legal assistance, the creation of a will that adheres to Massachusetts laws does not have to be a burdensome undertaking.
Source: Time, “Half of Americans Don’t Have a Will. Here’s How to Fix That for Your Family“, Kerri Anne Renzulli, Nov. 30, 2016