Death is so far inescapable. And since we have yet to figure out how to escape it, it is in our best interest to compose a will. A will is a written document directing how you want your property distributed after your death. You will also appoint a trusted person to be your executor in your will. This person, sometimes referred to as your personal representative, is responsible for distributing the property according to your instructions laid out in your will.
Anyone who has not composed a will shall have their property distributed according to the laws of that state. Unfortunately this isn’t always in line with your wishes. Most states leave one-third or one-half of your assets to your spouse and the remaining to your children. Writing a will would allow you to leave everything to just your wife, or just your children.
In some states if you do not have a will and have no children or surviving spouse, your property could be given to the state. A will also allows you to give property to a charitable organization or religious group. Without a will, you can not do this. Having a will resolves so many potential problems.
The executor is appointed by you in your will and is the person that you trust to distribute your property as laid out in the will. This should be someone that you trust, and can discuss this with them prior to appointing them as your executor. Choosing an executor is a very important step because if have not chosen one by the time of your death you may be appointed an attorney or bank to do this task.
One of the most common questions in creating a will is, do I need a lawyer. The simple and easy answer is yes. The actually answer is no. You are not required to have a lawyer involved in creating a will. However, if you do not seek the assistance of a lawyer, you may not compose the will correctly and the will may not be legal and stand true upon your death. Enlisting the assistance of a lawyer ensures that the will is legal and binding in your state. Your lawyer will also be able to answer many questions and explain any concerns that you may have prior to writing thing into your will. Lawyers can also assist with other more complicated aspects of the will such as appointing a guardian to minors that may be beneficiaries in your will, distributing property that you own outside of your state, making special provisions for a divorced spouse, charity, or disabled child, and establishing a trust.