You might shy away from conversations having to do with your own mortality. It’s understandable because no one really wants to think about dying. Because it’s an inevitable part of life, however, it is an issue that will be imminent in your life at some point. Because some folks in Florida avoid discussions about dying, they also fail to consider estate planning, particularly with regard to signing a final will and testament.
If you die without a final will in place, your loved ones and would-be beneficiaries may encounter a lot of legal problems. Not having a will can also spark family discord. In fact, there are numerous reasons why it’s always best to execute a solid estate plan well in advance of your passing, especially concerning a final will and testament.
Will issues that might pertain to you or someone you know
If you’re a parent of a minor, you and your friends no doubt often talk about issues concerning parenting and providing for your children. The following list shows several reasons why executing a final will and testament early on in life is a way to make sure that your family is taken care of if you die or become incapacitated:
- You can designate a legal guardian for your children.
- You can grant someone authority to delete your social media accounts.
- You can choose exactly who will receive specific assets or items.
- You make sure your end-of-life preferences regarding health care are carried out.
- You can enable someone you trust to handle your finances if you’re unable to act on your own behalf.
Executing an estate plan and crafting a final will and testament involves paperwork and takes time. However, you can think of it this way: The benefits mentioned here will not apply if you die or become incapacitated if you have not signed a final will.
As long as you’re of sound mind, you can update your will
Some people think that because the estate planning document is called a “final will and testament,” it means that once they sign it, it can’t be changed. There are many issues, such as marriage, a new birth in the family, divorce, death and more, that might prompt you to make changes in your will.
As long as you’re of sound mind, you can update your will at any time. It’s advisable, in fact, to periodically review your estate plan to make sure it is current and updated. Whether you’re single, married, in your twenties or in your golden years, it’s never too soon or too late to sign a will, and it’s the best way to protect your assets and provide for your family, especially children who are minors if you are no longer here or able to take care of them.