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“I Don’t Need a Will Because . . . ”
• “It’s fine with me if a large part of my property is distributed under state ‘intestacy’ law. After all, those legislators are smart people who surely know what’s best for my estate.”
• “I know a will can save taxes for my family, but the government needs money, too.”
• “Yes, some of my heirs may need money management, and setting up a trust in my will would help. But I think they should be free to squander their inheritances.”
• “True, a will lets me name an executor to handle my estate, or a guardian for minors under my care – but those decisions are best left to a judge who doesn’t know anything about me or my family.”
• “Money is tight; I’d rather not spend anything on a will – even though the modest cost could avoid later confusion, conflict and expense for my family.”
Unfortunately, three out of five people never get around to making a will, undoubtedly because they haven’t given much thought to the consequences discussed above. Clearly, every adult should have a thoughtful, up-to-date will. We should also add that a will enables you to continue your support for the organizations that are important in your life. Please contact us if you would like more information on will planning, including how to arrange a satisfying bequest for our future.
Copyright © by R&R Newkirk. All rights reserved.
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