WHERE THERE'S A WILL, THERE'S A WAY

Writing your will. You may be reluctant to do so. Very reluctant. Maybe you don't feel you have enough money or things to fight over after you're gone. Maybe superstition is holding you back, In the back of you mind, you feel that talking about death will bring it about faster. Maybe since you cant take it with you, you're not concerned about it.

However, a will is a very important document for you to draft. This document makes your wishes known, in writing and can be changed by you right up until you pass away. You've heard all the reasons why you shouldn't draft a will. Here are some reasons why you should.

GOOD FOR YOU, GOOD FOR YOUR FAMILY
As I mentioned before, a will outlines your wishes in writing. You should also speak to your family directly about your final arrangements. But putting it in writing will shut down misunderstandings, confusion and misdirection between family members after you pass away. You can protect vulnerable, less vocal and underage family members who may not be able to argue and grieve at the same time.

Your will should be drafted with a legal professional and witnessed (signed) by two uninterested parties. You should keep a copy in a safe place, but not anywhere your family will need a court order to open.

Your final funeral arrangements should be kept separately. Your family will have to go through Probate Court to settle your will. But your final arrangements (funeral home, services, burial) must happen much earlier, so instructions on your funeral service should be stored separately.

Also, be sure to include all close family members in your will (children, spouses, etc), even it you don't like them or haven't seen them in a long time. Family members who are completely left out of a will can contest (dispute) the validity of the will, and question your competence when you wrote it. Speak to your legal professional about how to include a mention of long lost or missing close relatives.

When you are leaving real property (house, condo, land), you may want to leave it to as few people as possible. When multiple people each become part owner of a piece of property, it becomes very difficult to sell, renovate or make decisions about the property. Leave your property to one or two good decision makers who you trust will do the right thing with the property.

WHEN YOU DONT WRITE A WILL
If you do not make your final wishes known in writing, State law will determine how your property will be distributed. Spouses and children are included, as well as some debtors. Your remaining family members will have to appoint a personal administrator and create an estate document through the Probate Courts before any of your property is distributed. This can take a few months, which may not the most desirable outcome.

OTHER IMPORTANT DOCUMENTS YOU MAY WANT TO CONSIDER
If you suffer illness or incapacitation, you may want a trusted family member to speak on your behalf concerning your finances or your medical treatment. There are a few documents that can help in this regard.
Living Will or Health Care Directive
This document outlines what type of health care you would like to receive in certain serious medical situations.
Health Care Proxy
This document gives another person permission to speak for you when you need medical care and are unable to speak for yourself.
Power of Attorney
This document can be used for health related treatment, but its usually used for financial concerns. This document gives another person permission to conduct financial business on your behalf, such as paying your bills, handling your bank accounts, etc. The "power" can begin as soon as you sign the document, or when a certain event occurs (ie, when you become incapacitated)

You can change all of these estate documents right up until you pass away. You are not locked in to anything. You should consult with a legal professional in your state while drafting these documents because the laws are slightly different from state to state. But the general idea is to make your wishes known and to provide clear direction to remaining family members so there is less confusion after you pass away.

TELL HER (OR HIM) ABOUT IT
Putting your final wishes in writing is very important for the reasons stated above. But make sure you speak to your family and healthcare professionals about your final finances, your health care and your funeral arrangements. Again, you want to avoid any nasty surprises, bullying or hospital room brawls.

YOU REALLY CANT TAKE IT WITH YOU
There are other ways to distribute your property and assets. Trusts and Insurance policy payments are usually distributed to the beneficiary upon proof of the death of the principal. A certified copy of the death certificate is needed as proof.

But the best way to distribute your property and assets, is to gift it before you pass away. This way, you can see for yourself that the person has received what you intended for them to receive. If you're lucky, you may even be able to experience the gratitude from that friend or family member while you are still on this side.

Let's Be Careful Out There!