When Do I Need a Will?

Wills. A scary concept for most, as the end-of-life planning and not knowing the future can be confusing and unfriendly. It’s common to hear that someone does not need a will because…

“I don’t have any assets.” “I do not have kids, or I do not have a spouse.” “I am too young for that.” “I do not care what happens.” And many other reasons. Gallup’s polling in 2021 showed that only 46% of Americans have a will written. In fact, that number has stayed about the same since 1990.

(Graph provided by Gallup via https://news.gallup.com/poll/351500/how-many-americans-have-will.aspx)

The truth is that wills are not just for the wealthy, for the family, or for yourself. Wills, along with Medical Directives and Powers of Attorney are designed to help with medical decisions, guardianships, tax protections, in emergencies, and with how you would like to be remembered. It’s a responsible and proactive step that everyone, regardless of age or wealth, should consider.

For the younger crowd, a will can help protect valuable digital assets such as online accounts, cryptocurrencies, and digital media, provide care and funds for pets, and prevent familial disputes. Medical directives and powers of attorney provide guidance and authority to your chosen family or friend(s) should you become unable to decide for yourself, and can designate a guardian to care for you if you become unable to do so. A will can appoint guardians and establish a trust to care for minor children after your passing.  This is crucial for ensuring that your children are cared for by someone you trust and who shares your values. A will can help business owners or those who have interests in a business by outlining their wishes for the succession of the business after their death. This can help ensure a smooth transition of ownership and management. 

The concept of writing a will can be daunting, and it can be complicated. Everyone deserves to have a team who is willing to help, explain, and navigate the realm of estate planning. 

Want to learn more about wills? Need a will written? Finderson Law LLC offers free consultations to discuss your case. Give our firm a call at (260) 420-8600, use the chat box on our website, or text us using the website link! We are always here to help bring our clients comfort, hope, and ease regarding the complications of the law. As Attorney Roger Finderson is now licensed in Florida, we are happy to help Floridians alongside Hoosiers.