Reasons to draw up a will

| May 3, 2017 | Estate Planning

Most legal experts in Illinois agree that every person should have a will. Without one, according to the New York Times, a person’s estate is handled by the state. This means that surviving family has no say in how the person’s assets and belongings are distributed. It is important for even young people to have a will because they may have important assets or arrangements that they wish to dictate.

One of the more common reasons for drawing up a will is if a person has children. According to Business Insider, upon the death of a parent, the custody of the children will be in limbo if there is no will and no other surviving parent. If there is no will, the children’s custody is left up to the state. They could be given to anyone, even put in foster care.

A will is also important to ensure that family is not left having to try to figure things out upon a person’s death. The lack of a will can cause issues with surviving family who may argue over assets or get into court battles over the things left behind. In addition, the state will typically look to the next of kin to handle all assets. Some people prefer to have more control and want to leave their assets to specific people. Making a will gives a person such control.

Age should not determine whether a person draws up a will or not. Accidents happen and death knows no age. Despite being young or in good health, a person could pass away at any time. It much better to be prepared by having a legal will than to leave it to chance.