Preparation is crucial to the success of so much in life. Whether it is saving for retirement, studying for an exam, or prepping a room for an expected newborn, our preparation extends to a number of areas throughout our lives. We do this to limit stress and future worries. Then why shouldn’t we prepare to limit one of the heaviest burdens placed on our loved ones: a death of a loved one. A will can provide a sense of security to both you and your family for no matter what happens. If you would like to draft a will for your family, contact our experienced team of Tennessee wills attorneys at The Higgins Firm Estate Group.What Are the Benefits of Having a Will?
In its most basic form, a will provides for the distribution of assets upon the death of an individual. However, a will is so much more valuable than merely deciding who gets what.
There are a number of benefits to having a will. A will can determine who would be the legal guardian of your children upon the death of a parent. This aspect of a will can be crucial to the parents of minor children. A legal guardian is the person who is responsible for the care of the children until they reach the age of 18. By specifying who would be named the legal guardian, you can avoid any potential controversy about who may be named to care for your children. Without a will, such an important decision would be left up to the court to decide who would care for any minor children. Although the court weighs a number of factors before naming a guardian, a parent’s choice can eliminate any potential issues.
Another benefit is that having a will helps to quell any potential disagreements or disputes between family and friends upon the distribution of assets. The death of a loved one can be a stressful and trying time. Any potential disagreements about who gets what can easily add even more stress straining relationships between the closest of relatives. Multiple family members may seek to lay claim over the same heirlooms. A will can act as a preventative measure to solve potential problems before they even start.
One of the biggest benefits of having a will is being able to decide where your assets should be distributed based on preference or need of the family. Although state laws provide a way to leave property to family members if the person did not have a will, that determination is based solely on statutorily defined relationships rather than the need of a family. Each family has a different situation and different needs that may not be best determined by the strict options set forth in the law. Whether a sibling or child may need special assistance, drafting a will enables each person to customize the distribution of assets to the family’s specific needs. You may feel uncomfortable leaving such an important decision up to the state.
There are a number of other benefits to drafting a will. Those benefits include:
- Naming a neutral administrator of the estate
- Documents your specific desires pertaining to your estate
- Can provide a means of charitable giving
- Reduces further delays in distributing the estate
- Granting peace of mind that your family will be taken care of
We offer a variety of wills services for the specific needs of your family. Whether you are looking for a basic will or whether you need a more complex will, our team of Tennessee wills lawyers have you covered. We are able to customize your will depending on your family situation. If you have any questions how a will would be beneficial to you, contact our Tennessee wills attorneys at The Higgins Firm Estate Group. Our Nashville based lawyers would be happy to talk with you about what would be best for your specific family situation.
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