August is National Make-A-Will Month. For many busy Americans, this yearly reminder is just the motivation they need to finally sit down and create their last will and testament. And once they do, many find the process isn’t as long or tedious as they anticipated. It’s also far less expensive than people may think. Money well spent!
Do you still need to make your will? Whether you’ve been too busy or simply don’t know how, here are three great reasons that will motivate you to write your will this August.
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1. It’s an important legal document that everyone should have.
All adults should have a will — it’s a powerful document that lets you distribute your property and protect your loved ones after you pass away.
2. It provides peace of mind to you and your family.
Wills aren’t just for the rich and famous. They make life (and death) easier for everyone, regardless of socioeconomic status.
Consider your belongings. You may not think you own a lot, but you likely have more property than you realize: your home, vehicles, furniture, clothing, books, sentimental items, and more. If you don’t have a will, your loved ones will be tasked with finding a home for this property when you pass on. Creating a will prevents family conflict, eliminates confusion, and ensures your assets go to the people you most want to have them. It also gives your family guidance and reassurance that they can fulfill your wishes during what is likely a very difficult time for them.
With a will, you can also plan ahead for those who are in your care — for example, you can name a legal guardian for your minor children and choose who should care for your pets.
The logistical benefits of having a will are important. But above all else, having a will creates peace of mind for you and the people you love.
3. It lets you create a legacy that lasts beyond your lifetime.
None of us live forever. But there are ways to continue making a positive impact on this world long after you leave it. One of these ways is by donating to a charity in your will.
There are many different ways you can use your will to benefit a charity — you can give cash, stock, real estate property, and more. Leaving a gift for a nonprofit in your will costs you nothing during your lifetime but will ensure that you can make a positive impact on causes close to your heart for years to come.
Already made your will?
That’s a fantastic first step. Now that you have a will, it’s important to keep it updated. We recommend reviewing your will every three to five years, or whenever you have a big life event (like getting married, moving states, or having a grandchild).
This month, consider taking 15 minutes to look over your will and make sure it’s up to date with your current preferences. Your life and relationships change over time — it’s important that your will reflects those changes, too.
You may also consider taking a few extra minutes to make sure you’ve named beneficiaries of your non-probate assets, like your life insurance policies or retirement accounts.
Call Sypek Law & Insurance at 413-642-5276
To schedule a free consultation.