Will estate planning be a top priority for every American age 18 and over. Unfortunately, most people procrastinate about executing a Last Will and Testament and making arrangements in the event of their death. Some people believe estate planning is too costly, while others believe it doesn't matter because they don't own anything of value. Nothing could be further from the truth.
Will estate planning isn't reserved for the wealthy, nor does it have to be expensive. Forms can be downloaded for free via the Internet or purchased in office supply stores. Probate lawyers can draft legal documents for a nominal fee. To get more knowledge about estate planning, you can also consult Alexandria estate planning Lawyer.
There are several reasons why people should engage in will estate planning. First and foremost, estate planning can reduce turmoil for your loved ones. By executing a legal Will, decedents can designate an estate administrator and beneficiaries. Individuals who have minor children can establish guardianship within the Will.
Oftentimes, people do not take into consideration what will happen to their children in the event of their death. This is of particular importance for single parents whose spouse is deceased. If guardianship is not arranged through will estate planning, children could potentially become a ward of the state. Establishing legal guardianship is one of the most important things you can do for your children.