Do You Need A Will Even If You Don’t Have Significant Assets?

Do You Need A Will Even If You Don’t Have Significant Assets?

| Dec 10, 2020 | Firm News |

You make a living that provides for your family and keeps everyone happy and healthy, but you’re not a millionaire. You don’t live in a big mansion or own a beach house, so do you really need to go through the time and effort to make a will?

The short answer is yes. Creating a will provides many benefits, even for people without significant assets. A will gives you and your loved ones peace of mind, more than anything.

What Does A Will Do?

Even if you don’t think you have large enough assets to be passed down, creating a will is still necessary to help your loved ones avoid legal troubles. While in most cases, your property is passed on to your spouse or closest relatives after you die, putting it in writing is the only way to ensure this happens smoothly, without error.

If you want anyone other than your spouse, such as your children or a family friend to inherit any of your possessions, putting these instructions in your will is the simplest, most effective way to do this. If you want your kids to inherit your things after your spouse dies, you should also specify this in your will.

Creating a will gives you power over your property and protects your family after you die, rather than leaving it up to the state to figure out your wishes. If you have any amount of property, savings or assets of any size, writing a will is the most efficient way to ensure your property ends up in good hands, without legal issues.