It is fairly obvious that homeowners, people with small children, and people with expensive assets, need a will. However, approximately 70 % of Americans die without a will. Many times, people think that a will is only important when you are getting older or have a great a deal of wealth and assets. Yet, countless times, people pass away unexpectedly and their loved ones are left with unanswered questions, searching for documents and indications of what the deceased wanted and how to divvy up even the smallest possessions.
Almost Everybody Owns Something
Many young people do not think that a will is necessary because, let’s face it, in this day and age many young people still live at home. Twenty-somethings should still make out a simple will. Do you own a car? What about that ring your grandmother left you? How about that wardrobe that cost thousands of dollars over time? Even fishing poles and guns carry sentiment for many people. In fact, it is items like these that families may have the hardest time with. With these questions unanswered, some possessions may not go to who you would want them to. Writing out a list of your possessions and who you want them to go to, should anything happen, can quickly show you that, yes, you do need a will.
Small Investments, Pensions and Life Insurance Policies
Most people have had a job or have a job that deducts weekly percentages towards a 401K or pension. Sometimes, even credit unions offer small life insurance policies for a small monthly deduction. Do you have any investments? Who are the beneficiaries? Without a will your loved ones are left guessing and may never find these policies. What is the point in saving and investing if it never benefits the people you care about?
Children and Others
It should be fairly obvious that anyone with children or a dependent needs a will. Unfortunately, people do not always account for the unexpected. Godparents are great but if there is no legal evidence that the children will go to them, then your children may be at the mercy of the family court system. Take care of this detail as soon after your child is born as possible.
We All Think That There is More Time
People do not intend to be negligent and leave their loved ones without a will. Usually, they put it off. When that baby is born and they get the new house, the last thing they are thinking about is when they die. Yet, time after time, we think, “I’ll do that later. I have plenty of time”. Don’t wait until you are on your deathbed to make these important decisions. Don’t wait until you are “old”. Because it’s never too soon to take care of your final wishes.
You can get more detailed information here, or call the Law Offices of Arnold N. Hirsch at 480-832-3000 for a consultation. With over 35 years of experience in Arizona law, we’ll be there to make sure your wishes are carried out in the way you prefer.