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4 Benefits of Creating a Will

Even though many of us do not think about our own death, we must all be prepared in the event of unforeseen circumstances and protect our family. One of the most important things you can do for yourself and your loved ones is to write a will.

Not only does a will protect your family and assets, it also explains how you want your possessions to be distributed. No matter your age, marital status, or wealth, drafting a will is imperative for anyone.

The following are the main benefits of creating a will:

  1. Determine how your assets are handled – A will is a legal document that allows you to decide how your estate will be distributed when you pass away. Without a will, the law will handle the distribution of your estate. In addition, a will can prevent your loved ones from fighting over your possessions.
  2. Appoint guardians for your minor children – In your will, you can decide who will take care of your minor children in the event of your death. If you do not have a will, the court will make the decision for you, whether it is having another family member, or a court-appointed guardian raise your children.
  3. Speed up the probate process – Although all estates must undergo the probate process, settling an estate is quicker and less costly with a valid will. Furthermore, the reduction of legal fees and the minimizing of estate taxes protects the value of your assets and savings to passed on to your loved ones.
  4. Reduce heartache and stress for your loved ones – You can specify your funeral and burial arrangements to avoid confusion and family disagreements during an emotional and stressful time.

Whether you are interested in creating a will or making changes to a valid legal document in New York, our legal team at Collins Gann McCloskey & Barry PLLC can help ensure your wishes are documented and carried out after your passing. We are committed to protect your family and assets.

For more information about wills in New York, contact us today at (516) 218-5131 and schedule a free consultation.