Perhaps you're thinking about creating a will, but are questioning whether or not it's actually important to do so? You may be asking yourself if a will is really necessary. In short, the answer to that question is yes.
To determine whether or not you should create a will in Park Ridge, Illinois, read on.
Why Should You Create a Will?
If you die without a will, the law writes one for you, and in Illinois, the law names as your heirs your spouse for half and your children collectively for the other half of your estate. If you die unmarried without descendants, your nearest living blood relatives would generally inherit your estate, in shares specified by law. If your wishes differ from the State's list of who will be your heirs without a will, you will need to do a valid will to change that "default option", and give effect to your wishes.
And, even if you like the list the State has for you, it is cheaper in most cases to have a will for your loved ones to go through the probate process, than for them to do it without a will.
Prevent Disputes Between Family Members
If you don't name in your will the person who is in charge of carrying out your wishes, i.e. your executor, family members can dispute who should handle this important task. And, here too, the State has a say in who is your preferred Administrator, which is what the person in charge is called if you don't name that person in your will. And, of course, other disputes can arise about your estate, particularly if you are silent on the subject.
By creating a will, you can help prevent these disputes from occurring. Beneficiaries are much more likely to respect a decision made by a will's executor than they are to respect a decision made by the courts. In essence, if you want your family to avoid disputes concerning your estate, you should create a will.
Name the Guardian of Your Children
While it doesn't happen often, there are occasions in which parents die before their children become adults. When this happens, it is tragic. To make a bad situation worse, if you haven't indicated your wishes in your will, the courts will decide who the guardian of your children will be. And, this guardianship process lasts until they are age 18, so it's like going to probate repeatedly. .
If you're a parent, you want to ensure that-in the event of your unexpected, premature death-your children are properly cared for, and that you have input. By creating a will, you can assign parental guardians, ensuring that your children are safe and protected after you're gone.
Looking for a Park Ridge Estate Planning Lawyer?
Are you interesting in creating a will? If so, you'll need a Park Ridge estate planning lawyer. Looking for a proven one? The experts here at John J. Pembroke & Associates are the people to see.Our team of seasoned attorneys has helped a variety of different clients to create wills and plan estates. It would be our honor to help you do the same.
Contact us today to schedule an appointment!