No matter who you are or what your circumstances, it’s probably safe to say that creating a will isn’t exactly your idea of a good time. As a matter of fact, for many, the idea of creating a will is so morbid that the process gets put off until it’s too late to give it the attention it deserves. A will is one of the most important documents you may establish in a lifetime, and if you don’t have a will, you need to check out these five reasons you should:

 

  • Funeral arrangements

Your will should include thorough instructions for planning and funding your funeral. Unless you have these plans in place, they will be left to your grieving family members. If the thought of putting this burden on those you love makes the thought of passing on even more disconcerting, then you should protect your family with a will. Of course, it makes sense to purchase burial insurance to cover the expense, which is always unexpected.

 

 

  • Guardianship

Who will take care of your children in the case of your untimely death? For many, this is the single most important consideration during the planning of a will. Don’t leave this decision to chance.

 

 

  • Your estate

You worked hard to provide a home for yourself and your family. You probably even have a number of assets that you spent years procuring. Also, remember that even family heirlooms and keepsakes are a part of your estate, and those things will become even more precious to your loved ones after you go. Who will get what? Does that matter to you? If so, then you need to clearly specify how you want your estate divided and distributed in the case of your death, and a will is how you do that.

 

 

  • The alternative

If you have no surviving relatives to inherit your estate, and you have not specified any benefactors in a will, all of your hard-earned assets will go to the government. It is most likely that you can imagine a greater preference for where your estate will go after you pass. If you have a favorite charity, or even an idea for a trust or foundation in your name, you can set these things up in a will and keep your estate out of the government’s hands.

 

 

  • Life partners

If you have a long-term partner that you share your life with, and you are not legally bound by marriage, then that partner is not provided for in the event of your death unless you specify that in your will.

 

Even if you are young and perfectly healthy, you should have a will. You never know what the future might hold, and the protection of your loved ones and your hard-earned assets is not something you should leave to chance.

About the Author: Ozella Doughton knows what it is like to have a family member die without a living will. When she’s not sharing the importance of estate planning with others, she can be found writing about cell phone technology, communications, iPhones, the best ringtone app for iPhone users, and cell phone plan comparisions. This article was written by a guest author. Would you like to, submit a guest blog post?