If you are a young couple with few assets, having a will is probably one of the last things on your mind.
With your focus on enjoying life and possibly the new children in it, it is not uncommon to overlook the whole estate planning process.
But the Newport Beach probate attorneys at Morgan Law Group want to remind young parents that devastating accidents do happen, and they can take life away in an instant. If this happens and you should pass away without a will in place, it can cause major legal and financial problems for your family.
If you’re still not sure why having a will is so important in the first place, here are a few reasons to consider:
- A will dictates who will care for your children after you are gone. If you have minor kids or a special-needs adult child, you will want to ensure that they will be properly cared for by the people YOU want, should you pass away unexpectedly. Don’t leave the decision to a judge who doesn’t know you …or your kids.
- It will outline how you want your assets distributed. Even if you think you are “broke”, it is still important to show in writing who will inherit your estate.
- It will help with the Orange County probate process. If you die without a will, the probate process can be longer and more expensive than necessary.
- A will can prevent divisions in the family. Forcing a family to divide assets amongst themselves because a person passed away without a will has been known to create irreversible rifts and heated arguments that are never remedied. Help avoid family fights by outlining your wishes in writing.
Still don’t think that a will is necessary based on your life situation? At least do yourself (and your loved ones!) a favor by getting the facts and meeting with an Orange County probate attorney. We invite you to call our office at (949) 260-1400 to ask if you qualify for a complimentary Family Wealth Planning Session (normally $750) with the mention of this article. However, spaces are limited to 10 per months so call today!