August Topic of the Month: Why are Wills important?
A “Last Will and Testament” is a legal document that outlines what happens with your estate after you pass away. A will is an extremely important document, yet nearly 65% of Americans don’t have one. When you die without a will in place, you don’t have agency over your money and assets; instead, your state’s laws and the local court will make decisions for you. This process can be time consuming and complicated and may become expensive and contentious for your loved ones.
A will lets you decide who receives your assets and property after you pass away – and who doesn’t. It also lets you appoint an executor to help distribute those amongst your assigned beneficiaries. This can help prevent any family strain before it happens. Wills also allow you to decide who will care for your children and where your pets will live if you pass away.
Wills also allow you to leave donations to the causes you support and to provide instructions for what you’d like to have happen at your funeral. These instructions are not legally binding, but they provide guidance on your wishes for your loved ones.
Making a will is relatively straightforward, and it will provide peace of mind now and after you’ve passed on. Call your attorney to schedule an appointment to get your will done.
Orsinger Investment Group, Inc. at (724)588-9067 with any questions or concerns regarding your investments.