May 30, 2024

It is surprising how many people put off creating a will. Some may find it too difficult to think about, while others may feel there is no rush and unfortunately end up never getting to it. A recent survey revealed that roughly 2/3 of all Americans die without a will. That is shocking when you consider how detrimental it can be to a person’s family.

When you pass away without a will, you leave important decisions up to a court. Instead of appointing someone you trust to handle your estate, without a will the court becomes responsible for doing so. You don’t know the individuals at the court making decisions on your behalf and they don’t know you or anything about you or your wishes. Because of this, the court does the best it can by following certain protocols, which may result in outcomes that are not aligned with your desires. The process is not only expensive, but it also delays your family from receiving assets from your estate by several years.

For instance, if you have minor children or pets, your will should name who will act as their guardian and specify the amount of funds that should be designated for their care. If you want to leave money to a certain charity or if you have any specific funeral instructions, this should also be included in your will. In this day and age, it is also not unusual for people to name an executor to manage their digital assets, such as their Facebook, Instagram or other social media accounts, should they pass away. In addition, if you own your practice at the time of your death, a well-crafted will can permit your estate a certain amount of time to oversee its sale.

There is no excuse for not having an updated will, as preparing or updating a will is a fairly simple process. Engaging the services of a knowledgeable attorney is advisable to create a will that complies with state regulations and accurately represents your wishes. You should store your most recent will in your home in the same place you keep other important documents. We also suggest keeping a copy with a trusted individual (such as your attorney) as a backup because misplacing your will could result in the courts treating your estate as if no will had ever been created.

Questions or comments? Please contact us at (646) 213-9044 or Admin@AndrieuxLaw.com.