Why should I have a will?

On Behalf of | Jun 28, 2022 | Estate Administration

People do not like to think about dying. You do not want to think about what will happen to your possessions after you are gone. Very few people like making a will.

This is one reason so few people do so. According to one Gallop poll, a little more than half of the people 50 years of age or older even have a will. Still, creating one is something you should do for the sake of your loved ones. It will make things easier for them should they have to deal with the trauma of losing you.

Even if you do not own very much, you should have a will. Otherwise, your property may not pass to others in the way that you want.

What does a will need to have?

Your will must be valid according to Georgia state law. Otherwise, the probate court might reject your will. You should name a personal representative. This person must distribute your property as you request. Be sure to choose someone who is competent. Also, name an alternative representative in case the first one cannot serve. If you do not name a personal representative, the court will do it for you.

What else should you do?

Estate planning also includes having a power of attorney prepared. It means naming beneficiaries in your life insurance policies and pensions. It also means determining who gets your bank account and other assets should you die.

Failing to create a will can lead to conflict and resentment. Preparing one shows family members that you care.