It’s a stunning statistic: fewer than half of Americans have written a will, according to a Gallup poll. So it’s likely that you, or someone you know, doesn’t have a will. There can be a lot of reasons why people haven’t gotten around to it. For instance, you may not be sure you have enough assets to need one, or perhaps you have a will, but it hasn’t been reviewed or revised in many years.
On Saturday’s show, we are focus on why it is so important to have an updated and accurate will.
Pierro, Connor & Associates attorneys Aaron Connor and Nicole Hurley share stories and examples that highlight the many reasons why having a will is necessary, including:
- Family dynamics can often change. If you have multiple marriages or a blended family, the financial loss can be huge if you die without a will. It’s also crucial to keep the names of your trustee or heirs current with your life now.
- Having the right person named to a legal role in your estate can also save your family from unwanted drama. When preparing a will, most people also designate a power of attorney and health care proxy. Aaron and Nicole discuss why sometimes the most obvious choice, is not the right one. You may have a very close relationship with one of your children, but he/she might not be able to make level-headed and logical medical decisions for you if you become unable. It can be a smarter decision to choose someone who you are confident would carry out your final wishes.