Reminder: you need a will. Everyone has thoughts on the government’s handling the current pandemic and economic crisis. Whatever your opinions, would you trust the government to carry out your wishes upon your death?
Without a valid will, Pennsylvania legislature oversees intestate succession – that’s the fancy term for passing on a deceased’s assets. So, you essentially put disbursement of your earthly possessions into their hands. And, guess what? They guess at the best plan for your stuff based on what works for most other people. Personally, I’m not willing to play Russian Roulette on my possessions getting to the proper heirs.
First off, if you have minor children, you up the ante on that gamble. If necessary, a will ensures your children are taken care of by your preferred guardians. Without outlined plans in a legal document, a judge will make that decision. See, nearly everyone has strong feelings about a certain family member raising their children. Did that get your attention? Because without a valid will, you run the risk of that person becoming legal guardian. I hear my phone ringing already with questions on how to avoid that scenario.
Heir Time and Taxes
In addition, having a will also mitigates the risk of a host of other situations. For example, you minimize the time for administering your estate in probate. Because of a will, you help your heirs pay smaller amounts of estate taxes. And, you can cut people out from inheritances who would normally end up receiving something from your estate. Also, you can potentially deter the joy of contested inheritances that crop up without a valid will outlining your wishes.
So, did it really take a global pandemic for you to realize you need a will? Relax, we can fix that quickly, easily and remotely. Call our office at 724-216-5180 or complete the online form to schedule a free consultation.