Planning Ahead with a Will

Individuals protect their families and loved ones by planning ahead with a will. The failure to create this vital document means the grieving deal with legal issues, while coping with immense sadness and loss. The court will decide what happens to the property, bank accounts, the guardianship of minor children, and the division of personal mementos. Unfortunately, a judge cannot determine the wishes of the person after death. So, to save loved ones from the headaches associated with probate, and to make sure personal wishes are carried out, the creation of a will is absolutely essential.

No Time like the Present

While most people plan to live to a ripe old age and pass away in their sleep, the reality is disconcerting. No one knows whether accident or illness will result in a premature death. Unfortunately, many individuals put off until tomorrow what needs done today. Especially for parents, lack of action is devastating for minor children. Kids need the assurance that they will be well cared for, if something happens to Mom and Dad.

In truth, thousands of people die without any advanced warning. Time is up before a will can be drafted. A car accident, a criminal act, a sudden illness -- and life is over in seconds. Without a will, the courts decide what happens to all assets and who will care for the minor children until they grow up. While decisions are being made, everything is in limbo-even the grieving kids.

Two Wills are Better Than One

When contemplating a will, most people are concerned with guardianship of their children and the division of assets. Individuals are thinking of the best interests of loved ones. Of course, creating a will is a great help for those left behind; but, creating two is better.

A living will protects loved ones from making those vital decisions regarding personal wishes, if the individual cannot make decisions regarding personal care. Persons should make their wishes known concerning:

• Maintaining life support
• Power of Attorney
• Childcare

In the event life support is necessary after an accident or serious illness, when should the doctor pull the plug? Who will be in charge of financial issues and major decisions regarding personal health, when a person is unconscious or unable to make those vital choices? Who will take care of the kids, if a parent(s) is no longer able to care for him or herself? A living will answers all of these questions, and records the life and death decisions of the individual, before anything catastrophic happens.

Thoughtful Preparation of an Estate Plan

Making a living or standard will is an intensely personal act. Thoughtful preparation for the unthinkable is often emotionally difficult. However, creating the documents, and making personal wishes known, is an easy process. In many cases, an experienced attorney can draft a will in under an hour. A copy is kept in the attorney files, another is given to the individual, and the interests of loved ones are not left to the legal system. While planning to live a long and healthy life, a will provides for the future of loved ones and facilitates a good night’s sleep.

• This page is provided for informational purposes only. If you need advice regarding estate planning, click here to talk to Michael Holland or an Estate Planning Lawyer near you.