Skip to content
Monday, May 29
  • Legal
  • Personal Injury
  • Elder Law
  • Cyber Law

Law Page

Good To The Last Law Page.

Law Page

Good To The Last Law Page.

  • Home
  • Cyber Law
    • Traffic Law
    • Criminal Law
    • Elder Law
    • Family Law and Divorce
  • General
  • Legal
    • Copyright
  • Personal Injury
  • Blog
  • Contact Us
  • Home
  • Cyber Law
    • Traffic Law
    • Criminal Law
    • Elder Law
    • Family Law and Divorce
  • General
  • Legal
    • Copyright
  • Personal Injury
  • Blog
  • Contact Us
Trending Now
  • The Role of Personal Injury Lawyers – Why Would You Ever Need One?
  • The Personal Injury Lawyers
  • Types of Personal Injuries
  • Damages Available For Personal Injury
  • Personal Injuries Suffered
  • Personal Injury Lawyer – Selecting the Best For Getting Good Compensation
Home>>Elder Law>>Why Do We Need a Will?
Elder Law

Why Do We Need a Will?

William Curtis
2021-11-02

The Importance of a Will

Wills are important for a variety of reasons, the greatest of which is to ensure that YOU decide how your estate is distributed to and among your loved ones. However, here are four more benefits to having a Will:

1. To appoint a Guardian for your minor children

2. To appoint a Trustee to manage assets and property that might pass to your children, regardless of their age

3. Appoint a Personal Representative of YOUR choice

4. Avoid the State from distributing your Assets according to statute

Choose a Guardian for your Children

If you have minor or dependent children, it is critical to select a Guardian who you believe is fit and able to care for your children in their time of need. A Will is the most reliable way to select a Guardian to care for your child in the event of your death. If both parents die without appointing a guardian in a Will, the Court will choose the person who will care for your children.

Appointing a Trustee to Manage Assets

Most parents, when asked, elect to establish Trusts in their Wills to benefit their children, which are administered by a Trustee. The assets are managed and distributed by the Trustee to the children in accordance to the wishes of the parents, as set forth in the Trust. The Trust then terminates at a point in time when the parent feels their child would be able to manage their own affairs.

If parents die leaving assets and/or property to a minor child or children, without the establishment of a Trust, then the Court will step in and decide who should administer the property on behalf of the child or children. Once the child reaches the age of majority, the child will receive full control over the assets and or property.

A Will is an excellent mechanism by which to create a Trust for the benefit of a child or children. Moreover, a Will is where a parent appoints a Trustee and describes the disposition of the Trust.

Choosing a Personal Representative (Executor)

A personal representative ensures that your wishes, as contained in your Will, are carried out after your death. The Personal Representative collects and inventories all of the property and is responsible for making distributions in accordance with the Will.

Most people choose a spouse, sibling or other close family member or trusted friend to act as Personal Representative.

Without a Will naming a Personal Representative, a Court will appoint an administrator to oversee the distribution of your property. Consequently, your Estate may be administered by a stranger who knows nothing of your wishes or intentions.

Avoid Intestacy

If you die without a Will, then the Court deems that you have died Intestate and imposes State created rules that govern the distribution of your estate.

Generally, the spouse and children of the deceased are the first to share in the Estate. In Washington State, spouses receive items considered as community property and children receive portions of separate property. Often times, these distributions are contrary to the wishes of the deceased and create strife between families. Also, without a Will, it is impossible to give gifts or property to close friends, in-laws, charities or other organizations. Worse yet, if there are no living blood relatives, the state confiscates all the property and it accrues to the benefit of the state.

The best way to avoid the state’s intrusion into your personal affairs is to establish a valid Will. Don’t put off this important task.

Previous Post

Celebrity Divorces Continue Putting Spotlight on Family Law Risks & Challenges

Next Post

What Is Independent Legal Advice?

Related Articles

Elder Law

New York Passed and Then Repealed Medicaid Expanded Estate Recovery: A Recap

Elder Law

Getting the 411 On Nursing Home Care

Elder Law

Home Is Where the Heart Is, Make Sure You Get to Keep It

Elder Law

Why It Is Important to Learn About Elder Law

Elder Law

The Care Act 2014 and Caps on Individual Care Costs

Recent Posts

  • The Role of Personal Injury Lawyers – Why Would You Ever Need One?
  • The Personal Injury Lawyers
  • Types of Personal Injuries
  • Damages Available For Personal Injury
  • Personal Injuries Suffered
  • Personal Injury Lawyer – Selecting the Best For Getting Good Compensation
  • A Personal Injury Lawyer Is Best To Advise On When To File A Personal Injury Claim
  • Why One Needs A Personal Injury Lawyer

Categories

  • Copyright
  • Criminal Law
  • Cyber Law
  • Elder Law
  • Family Law and Divorce
  • Legal
  • Personal Injury
  • Traffic Law

Newsletters

Subscribe Our Email List
Loading

Categories

Copyright Criminal Law Cyber Law Elder Law Family Law and Divorce Legal Personal Injury Traffic Law

Email Newsletter

Subscribe Our Email List
Loading

Quick Links

  • Home
  • Blog
  • Privacy Policy
  • About Us
  • Contact Us
  • Sitemap

Recent Posts

  • The Role of Personal Injury Lawyers – Why Would You Ever Need One?
  • The Personal Injury Lawyers
  • Types of Personal Injuries
© 2023 Law Page | WordPress Theme Ultra Mag
  • Home
  • Blog
  • Privacy Policy
  • About Us
  • Contact Us
  • Sitemap