If you can answer YES to ANY of these questions then YES, you do (and you probably also need a Living Will and Financial Power of Attorney, but we will talk about them another day!).
1) Do I want to direct who gets my assets? If you have a family member that you don’t want to inherit any part of your estate, you need a will. If you have a child who you believe should have a larger share of your estate or a specific asset in your estate (like your house) than you need a will.
2) Do I have minor child(ren) that need to be looked after if something happened to me and their other parent? If something happens to you and to your minor child(dren)’s other parent, naming a guardian in your Will is the way to let your loved ones know who you want to raise your child(ren). Doing this can avoid a very costly legal fight over custody of your minor child(dren).
3) Do I want to direct who will take care of distributing my assets when I pass? In a Will you name an Executor who is responsible for administering your estate, pulling your assets together, paying your bills and taxes, and then distributing your assets to your heirs. Naming that person helps to ease the burden on your loved ones after you pass about who will be responsible.
4) Do I want to direct how my assets are distributed to my heirs? If you have heirs that shouldn’t inherit their money outright and would benefit from a trust you need a will. If you have a minor child that cannot legally inherit because they are not yet old enough you need a will.
GIVE US A CALL TO SET UP AN APPOINTMENT. We will be happy to discuss your specific needs with you.