Don't Let the Government Write Your Will
We may well disagree on exactly where to draw the line, but we can all probably agree that we don't want our state of residence preparing our last will and testament.
Yet, this is exactly what will happen if you are among the estimated 50 percent adults without a will. When you die without a will, your state's default intestate laws have a will ready for you which unfortunately may be against your wishes.
The function of state intestate laws is to distribute a decedent's assets usually with half to spouse and half to kids. But with this can cause a lot of potential problems. For instance, What if you are in a non-traditional relationship? If so, your parents would receive everything and your partner nothing.
Moreover, it is also important to consider the future of your minor children, such as who would raise them and enhancing their financial security with a trust fund available to them at a certain age. Without a will, these procedures can turn into a costly legal circus funded by your estate assets.
Once you have made the decision to protect your loved ones with a will you may ask if you can do it yourself. It is highly advisable to have a legal professional supervise the drafting and execution of your will to ensure all aspects of your estate and assets are correctly assessed and passed on accordingly to your loved ones.