Who Needs a Will?
Estate Planning Lawyers in Waco
There is a common misconception that if you aren't wealthy, you don't need a will. This is not true. In reality, everyone can benefit in some way from having a will.
At Sutton Milam & Fanning, PLLC, it is our goal to help you write a will that is in line with your personal goals and wishes. Writing a will does not have to be complicated or expensive; it just has to address what is most important to you. Our Waco estate planning attorneys can help ensure that happens.
Ready to get started? Looking for more information? Call (254) 237-5602 to arrange a consultation with one of our lawyers.
Who Benefits from a Will?
A will is not a purely selfish document — far from it. Many people in your life can benefit from your will:
- Your spouse: Creating a will ensures your spouse will be the beneficiary of your assets if you choose. It also ensures he or she understands your final wishes.
- Your children: By designating how you would like your assets to be distributed, your children don't have to worry about handling those matters themselves. A will also allows you to bequeath important assets to your children or ensure they are safe if you pass away while they are still minors.
- Your parents: If you pass away before your parents, they may be left to handle your affairs for you. Having a clear and detailed will can ensure they understand your wishes.
- A meaningful charity: If charitable giving is important to you, you can use your will to bequeath assets to your favorite cause.
- Other loved ones: By making important decisions now, you save your loved ones from having to make them for you later on. When loved ones are left to make certain decisions while grieving from your loss, it can lead to heartache and even quarrels between family members.
Of course, you also benefit from having a will as part of your estate plan. A well-crafted will provides peace of mind and the knowledge that your assets will be transferred according to your wishes. Your loved ones will be free from having to make difficult decisions on your behalf.
What Is Included in a Will?
A basic will includes instructions regarding the transfer of assets after your death. However, writing a will allows you to do more than just name beneficiaries. Certain types of wills allow for the establishment of trusts upon your death and serve as a safety net for any property you might forget to mention. A Waco estate planning lawyer at our firm can help make sure your will is legally sound and addresses all of your needs and wishes.
When to Create a Will
A will can be created at any time, and the sooner the better. It is important to know that wills are living documents that can and should be updated regularly, especially after major life events like marriage, divorce, or the birth of children.
To arrange a time to discuss creating or updating a will with one of our Waco estate planning lawyers, please call us at (254) 237-5602.