Making a Will – 10 Little-Known Facts You Need to Know
The pandemic has changed people's thinking on many things, not the least of which is estate planning and making a will.
Making a will is not the most exciting topic, and it forces you to face your mortality. But whether there's a pandemic or not
What happens if you pass away without a will?
If you pass away without a will, you and your loved ones will not be in charge of how your assets get distributed.
Some assets are distributed regardless of what your will say
This isn't quite as scary as it sounds, but you do need to be aware that some assets are passed on outside of the will, regardless of what you put in writing.
If you search online, there are many free or low-cost templates you can download to make a will. But be aware that these forms will not necessarily comply with all the specifics of your state laws.
You can set up a will for free, but beware of the limitation
there are other documents you should consider besides just a will to protect you and your family
One document you may want to consider is a living will. This is an advance healthcare directive that outlines your wishes should you be unable to make those decisions.
If you are a parent, you will want to make sure you use your will to name guardians for your children. This can be a tough decision and probably requires a conversation with the would-be guardians.
Name guardians for your children
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