It is easy to think of estate planning as something only for people in their golden years, or those who have high-net-worth. If neither of these apply to you, you may wonder why you need a will at all.
In these situations, simple wills are the best choice. According to FindLaw, a simple will allows you to make decisions in advance if you happen to die unexpectedly.
What decisions can I make with a simple will?
The most important thing that a simple will allows you to do is appoint an executive. The probate courts contain a litany of cases involving family members fighting over a deceased person’s estate, and many of these cases do not involve high net-worth estates.
If you die unexpectedly, it is likely that grief will overwhelm your family for a time. Naturally, even when older loved ones pass it is a difficult time, but an unexpected death can cause people to act in irrational ways. Even if you believe that your family members would “know what to do” in the event of your death, grief can make effective decision-making difficult.
Can I leave possessions to people with a simple will?
Yes, you can leave possessions to individuals with a simple will. It is likely that a simple will will go through probate regardless, but having some directives in place will make the process much easier and smoother.
Particularly if you have children and a major accident occurs that kills both you and your co-parent, it is very important to have child care directives in place. A simple will makes this easy and possible.