Is Having a Will Really That Important?
The majority of people we know wouldn’t let a stranger order dinner for them at a restaurant, let alone
allow a stranger to decide either how they should spend their money or choose a babysitter for their
children. We like to have the power to make decisions that affect our lives, our finances and our loved
ones; and rightly so. Yet, some people apparently ARE willing to allow a stranger to decide what will
become of their assets and/or who will raise their minor children and handle their children’s money.
Sound crazy? That’s what can happen if you die without a Will.
A Will, or Last Will and Testament, is an instrument that gives you a choice. It allows you to exercise
your “will” and see that your wishes are carried out. It puts you in control of what will happen to your
belongings after you are gone. Without it, what becomes of your money, your home, and everything
else you have worked hard to obtain, will be determined by operation of law. This means that,
ultimately, the law will dictate who gets what, and a judge will decide who will raise your children and
manage your children’s money.
Creating a Will puts YOU in charge. You choose how your assets will be distributed, and who will be the
guardian for your minor children, the trustee who will safeguard their money, and the executor who
will carry out your wishes. For some, it can also be used to reduce estate taxes and to create trusts
for intended recipients (called beneficiaries) who are minors, disabled, or are not capable of managing
assets on their own.
If you want to have the power to determine what will happen to the people and things that are valuable to you, whether it be your children, a family heirloom or money in a savings account, a Will can be a priceless tool.