Why Do I Need to Create a Will?
A will allows you to dictate who you wish to inherit your assets upon your death. If you should die without a will, the state determines who gets what according to laws of intestate succession.
In general, intestate laws split your assets between your surviving spouse and children. If you are single and do not have any children, the state chooses who inherits your estate among your blood relatives — usually parents and siblings. Therefore, if you want to have any level of control over what happens to your assets and property, it’s important to create a sound will.
Providing for your kids
Wills are also very important for people who have young children. You may leave specific instructions in your will about who will be responsible for guardianship of your kids should both parents pass away before they come of age. If you do not give these instructions, the state looks at your family and determines who would be best suited for the job. Obviously, you are going to have a better idea of who is best fit to raise your children than representatives of the state, so it’s important you handle these stipulations in your will.
Finally, wills are also amendable as you go through changes in your life. Every time you have a new child, a career change or another major life milestone, it is fairly easy to update your will to make sure it reflects your current life situation.
For more information on why you should create a will and for assistance with drafting yours, consult a dedicated Florida estate planning attorney at the Charles Law Offices today.