When you talk about estate planning, many people incorrectly think it is only for the ultra wealthy. At bare minimum, everyone should have a will. Below are the top 10 reasons you need a will NOW.
1. Decide who gets your assets.
2. Decide who will be guardian to your minor children.
3. Choose your executor that will wind down your estate.
4. Reduce legal costs at probate by spelling out how to administer your estate.
5. Allows for charitable donations.
6. Gives peace of mind to loved ones by making your wishes clear.
7. Specific instructions as to sentimental or valuable personal property.
8. Make sure an unmarried partner is taken care of.
9. Provide for pets.
10. Set funeral wishes.