There are many reasons why you should decide to have a will. Aside from peace of mind, we have listed the top four.
1) Save time, money, and stress for your family.
If you don’t have a will, your family will probably have to go to probate court to distribute your assets. This can be complicated and expensive. During this asset distribution process, families don’t always agree. This can create friction, and even fights, which sometimes last a lifetime.
2) Determine who will manage your estate.
When you write a will, you have the opportunity to nominate an executor who is the person who will be in charge of wrapping up all your affairs. Their responsibilities may include everything from closing bank accounts to liquidating assets. If you don’t choose an executor in your will, the court will pick one for you, and it may not be the person you’d want.
3) Decide who gets your assets and property.
Most people know that a will lets them decide who will get their property. You get to choose who gets what. You should be able to make these decisions. Creating a will solves the problem by eliminating the guesswork.
4) Choose who will take care of your children.
If you’re a parent, you are probably worried what would happen to your children after you are gone. You can use your will to choose a guardian for your minor children. If both parents pass, this is one of the most important reasons to have a will. A guardian will be responsible for all of the daily needs of your children, including food, housing, health care, education, and clothing.
Contact our office to speak with one of our attorneys about having a will drafted at 865-428-6737.
There are many reasons why you should decide to have a will, but we have listed the top four.
Divorces are often stressful for couples who may be uncertain about the future of their financial situation and the custody of their children. In Tennessee, couples are required to go through mediation before they go to trial for a divorce.