What Happens if I Do Not Write a Will in My Lifetime?
Most people are not particularly eager to jump into the estate planning process, and this is understandable, however, doing so is most likely one of the smartest decisions anyone can make. For this very reason, our experienced Pennsylvania estate planning attorneys have dedicated our practice to assisting individuals through every step of the estate planning process, no matter their age, financial standing, or otherwise. While of course, estate plans often involve far more than simply writing a will, wills are, in many ways, the cornerstone of any comprehensive estate plan. Unfortunately, many people pass on without ever writing a will, which often results in a serious headache for their families. Please continue reading to learn more about the importance of creating a will and how our firm can help you and your family achieve the peace of mind you deserve. Here are some of the questions you may have:
What is the importance of writing a will?
When you write your will, you set the framework for how many of your assets will be distributed and to whom, which can help prevent serious headaches and potential arguments between family members after your passing. Additionally, creating a will ensures that you have appointed an executor to handle the administration of your estate. Finally, if you pass on without creating a will, it means that you have died intestate, which triggers intestate succession. Essentially, when this happens, only blood relatives, your spouse, or a registered domestic partner can inherit your assets–rather obviously, this excludes friends and other relatives that you may wish to receive certain assets upon your passing.
Why is establishing a guardianship important in a will?
If you are a parent, creating a will is absolutely essential, regardless of your financial standing. This is because, in your will, you can appoint guardians to take care of your children, should something ever happen to you and your spouse. Though no parent ever wants to think about not being able to raise and be there for their children, the truth is, it is always best to prepare for the worst. If you do not appoint guardians (people who you trust to look after and raise your children responsibly and according to your wishes) the courts will appoint a guardian on your behalf after your passing. Of course, the courts will do their best to pick your child’s guardian on the basis of his or her best interests, however, nobody knows your child’s best interests as you do. Creating a guardianship can prevent your child from falling into the wrong hands. If you are ready to write your will, or need assistance through any other aspect of the estate planning process, our firm is here to help.
CONTACT OUR EXPERIENCED PENNSYLVANIA FIRM
Whether you are dealing with matters involving estate planning, estate administration, or elder law, you need a legal team you can feel confident will represent your best interests, every step of the way. We are that legal team. Contact Heritage Elder Law & Estate Planning today so we can get started.
