It makes absolutely no sense. You drafted a will 15 years ago. At the time you only had one, not two daughters. You were taking a trip out of the country for your 10 year anniversary and it just seemed like it made good sense to have your wishes in writing. Unfortunately, since that will that you created 15 years ago, you have not done anything else to record your financial wishes. You now have two daughters, one 14 and the other 18, and on this particular weekend you are again separated by more than 1,000 miles. Your youngest daughter is in California on a high school band trip and you are six hours from your oldest daughter who you just dropped off at college.
It takes less than 30 minutes to create or update a will with experienced lawyers. Why then do 55% of Americans not have one? Perhaps, making a will makes you feel more certain of the temporary nature of life, but it is important that you make plans for the permanent care and guardianship of your children. Obviously, it is also important that you have all of your financial plans in a legal and updated will so that in the event it is needed, there will not be any unnecessary delays.
While nearly 60% of couples who do not have a will say they simply have not gotten around to it, the majority of the couples with wills cite three specific reasons for taking the time to create this legal document:
- 59% to avoid probate
- 57% to avoid arguments among indicated beneficiaries
- 39% to keep children from losing or mismanaging their inheritances
Experienced lawyers can provide families with many necessary legal services besides creating a will. Everything from making a plan for grandparent visitation rights in a family divorce to legal help for a victim of domestic violence can all be handled by family law attorneys. An aggressive attorney can even make sure that your legal issues are resolved as favorably as possible.
According to Business Insider, the three most important legal documents that everyone should have include a will, a living will, and a durable power of attorney. If you do not have these three documents, or if you do not understand the difference between the three, contact a firm of experienced lawyers for an appointment. The best way to avoid problems with your finances and your end of life choices is to make the plans you need sooner, rather than later.