In its most simple terms, a will is a legal document that specifies who gets what after you die. Again, seems simple enough but deciding who is getting all of your property is a big deal. Such a big deal that it requires a legal document to accomplish.
When creating a will you just need some basic information such as your name, place of residence, spouse and children’s names, specified beneficiaries, among other pieces of information.
A scary thing is that about 62% of people between the ages of 45 and 54, and 51% of people between the ages of 55 and 64 don’t have a will drafted. There’s not really a good excuse why this would be high, but something can be done about it. Reasons range from not getting around to making one, to not thinking a will is urgent, or just not wanting to think about death.
We get it, life gets busy and there are certain facts we don’t want to face or think about.
Wills aren’t that difficult or costly to create and make official, they just seem daunting. Plus, they’re completely worth it. Considering the headache that can be caused from not creating a will, it’s a good idea to spend some time doing. Also, make sure to fill out an estate planning checklist!