Writing a will is critical when people have children

Writing a will is critical when people have children

On Behalf of | Jun 26, 2019 | Wills And Trusts |

For many people in Louisiana, writing a will may not be their top priority. For some people, the time it takes to put one together may seem like something they do not have. For others, the idea of making designations this early in life may seem counterproductive. However, contrary to what many think, writing a will is actually quite simple and compared with its benefits, is not that time-consuming.

A survey that was conducted on a group of people around the nation, revealed that nearly 65 percent of families with underage children do not have any kind of will in place. This number decreases as children get older, with only 37 percent of people not having a will whose children are adults. As people prepare to organize their will, they will benefit from organizing their thoughts on paper and creating a draft of their finished document.

There are three primary designations that people will need to make as part of finalizing their will. First, they will need to identify how and by whom, their children will be cared for in the event they become incapacitated. Second, they will need to name someone they trust as the executor who will be primarily responsible for overseeing that their will is followed in its entirety when the need arises. Third, they will need to make detailed designations about where they wish for their assets to go, as well as any heirlooms or personal belongings they wish to gift to the people they have named in their will.

When people are planning to begin creating a will that is customized to fit their lifestyle and desires, an attorney may be a valuable partner. Legal professionals can provide insight into what considerations to make in guaranteeing that a will is legally accurate and that it remains updated throughout a person’s life.

Source: MSN, “Writing your will is easy, but 65 per cent of parents with kids don’t have one,” Lesley-Anne Scorgie, Jun. 23, 2019