There are many good reasons to have a will in place. Ultimately it saves your surviving family members, and possibly friends, a lot of time, money and stress in dealing with all the details after having lost one of the most important people in their lives. Coping with grief is bad enough, and giving loved ones the gift of a will just makes sense.
A will can tackle many things. Most people think wills are only good for designating “who gets what”, but with careful planning a will can be used to reduce estate taxes, avoid probate, arrange trusts and more.
Some people may wish to give all or part of their estate to a charitable organization, establish a scholarship at a favorite alma mater or provide for the care of beloved pets. All of these things can be dealt with in a well thought-out will.
A will should also designate a personal representative or executor. This is someone that ensures the instructions and wishes in the will are being carried out.
While it is best to seek the advice of an attorney when drafting a will, there are online options that may be less expensive. Do your homework to be sure your document will stand up in court should anyone contest it. And, even better, make your wishes known to the people who will be affected by the will. It can reduce potential arguments after you are gone so your loved ones can focus on supporting one another through their grief of losing you.