Why You Need a Will (and Powers of Attorney)
/Many people put off writing a will until they are in their later years. However, this is a mistake. Accidents can happen at any time, and there is no guarantee you will be here tomorrow.
Why a Will
You do not want your loved ones disputing their inheritance or other matters after a tragic loss. If you have a will, disgruntled family members are limited to disputing the will instead of arguing with other family members. A will can therefore prevent long and costly legal battles that often take place when someone dies without a will.
With a will, you can decide who your personal representative will be. You can leave what you want to whom you want. You can express your desire for your funeral arrangements, and you can set up trusts so that young beneficiaries do not receive their inheritance before they are mature enough to make good decisions. The younger you are when you sign your will, and the longer it has been in place, the less likely it is that the will can be challenged. So do the smart thing and get a will.
Why Powers of Attorney
We also recommend that you have powers of attorney drafted. Powers of attorney guarantee that someone you trust makes important decisions if you are in an incapacitated state. People without powers of attorney too often have people take advantage of them, sometimes even their own family members.
If you are temporally or permanently disabled for physical or mental reasons, no one is legally able to make financial or medical decisions for you, unless you have previously executed powers of attorney. Without the powers of attorney in place, someone will need to petition a Probate Court to hold a hearing, and the Court will need to appoint a guardian and/or conservator for you. This takes time and money, and the Court may not select the person you would have preferred to be in charge of your financial and medical decisions. Do not leave these decisions to the Court or people you may not trust. Have financial and medical powers of attorney drafted before they are needed.
Powers of attorney documents can easily be drafted at the same time as your will. Call (734) 761-7282 to speak with an attorney about having a will and powers of attorney prepared for you.