There are various explanations why it is very common for people to avoid or procrastinate making a will. You might not feel that you need one, you may think it seems too complicated to deal with, or you might possibly view it as an unpleasant issue that you would rather delay as long as you can.
According to the Boston Globe, here are some reasons why you need a will.
Why you need a will
Whether you are a young adult or are in your senior years, planning for the future is crucial. As long as you have any kind of assets, having a will is a necessity, even if you think that your life situation is pretty straightforward. If you think of a will as your letter about what should happen after your death, it becomes easier to picture why this is so vital.
The absence of a will means that alternatively, the State of Florida is going to make decisions for your estate. The state decides how to divide your properties in terms of who your heirs are and uses predetermined percentages for distribution. When you have a will, you are in control of those decisions.
The benefits of writing a will
Creating a will allows you to allocate things exactly the way you want. For example, you may choose to leave your house to one child and financial investments to another based on their specific life situations. You may also want to provide for people who would not necessarily be in your line of succession. If you have minor children, this is the opportunity to state who should be their guardian in the event of your untimely death as well as a trustee to manage their finances.
Be sure to revise your will every 3 to 5 years. It is also a good idea to update it every time there are life changes such as a birth, death or divorce.