Estate planning lawyers know that preparing for death is unpleasant, but it’s a crucial part of life. You deserve peace of mind knowing that your loved ones won’t struggle to make basic decisions about your burial or financial matters when you pass away.
Drafting a will can remove the overwhelming responsibility from their shoulders, so they know exactly how to handle all arrangements upon your death. Furthermore, you likely want to leave them with the benefits of a lifetime of hard work, and to be confident that your possessions will be dispersed according to your wishes.
Below are some of the most common mistakes people make, which you’ll want to avoid while setting up your will.
Not Creating a Will
One of the most common and avoidable mistakes people make is choosing not to create a will. A will outlines your final wishes, such as:
The distribution of your assets, such as real estate, motor vehicles, and bank accounts
A guardian for your minor children and adult dependents
Burial and funeral arrangements
Without a will, the dispersal of your estate will be left to the government, and your survivors could be left fighting over your assets and unsure of your final wishes. These are outcomes that most people would like to avoid at all costs.
Failing to Designate an Executor
An executor is the person responsible for managing all elements of the deceased’s estate.
By choosing an executor you trust, you can avoid contention within your family and ensure that your final wishes will be met.
Not Naming Beneficiaries
A will tells your surviving family and friends what to do with your assets when you die. If you don’t name beneficiaries to receive specific assets, such as your car or family heirlooms, it could cause some confusion about what they should do while settling your estate.
Failing to Consider Your Pets
Your pets are important to you. You might believe someone in your family will be kind enough to take in your cat, dog, or another animal when you pass away, but assumptions often leave pets homeless.
You can add a provision in your will to determine where your pets should go upon your death. Communicate with your loved ones before finalizing your will to determine who would be willing to care for your pet after your passing. If no one wants to take on the responsibility, you can arrange for your pet to go to an animal shelter of your choosing.
Getting Help
We are here to help you draft a will and any other estate planning documents you may need. We want you to have peace of mind knowing that your documents are created correctly and that your family will be adequately protected if something happens to you. To schedule a consultation with our law firm, please feel free to contact us.
