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What Is A Will, And Do You Really Need One?

A Will is a legal document that helps a person put their affairs in order before they die.  Every adult should have a Will to outline his or her intentions assigning the Beneficiaries and Executors who will handle a loved one’s property, finances, assets, and other possessions upon death.  The Will should identify who will handle the estate, how to divide the assets, and who will serve as guardian for any minor children.  If someone dies without a Will, the money and possessions will be distributed according to a formula fixed by law.  This means that a spouse may have to share assets with other family members not of their choosing.  It could also create lengthy delays in the final distribution of assets.  Additionally, dying without a Will could result in minor children being placed in the care of a court-appointed guardian instead of who would normally have been chosen.

 

It is very important to have a Will prepared, but many people procrastinate in doing so because they feel it may be too expensive or time consuming.  This is not necessarily the case.  In fact, there is no set price attached to the preparation of a Will.  The fee to prepare a Will that addresses your specific needs will depend upon the complexity of your situation and your intentions.  Most lawyers offer an initial consultation through which they are able to review your needs, and then estimate the cost for your Will and the time involved with drawing one up.

 

 



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