A lot of things change when individuals become parents. The way that a person thinks, behaves, and prioritizes are all adjusted to account for providing the best care for the new life. If you are a parent, it becomes even more important not only to plan for your child’s current needs but also future needs. One of the necessary actions parents should take is to have a will made.
Despite the critical importance of a will when there are children involved, not many Americans have one in place. Not even one-third of the population has a will or any type of estate planning provisions. There are several reasons why people do not place the importance on estate planning that they should. However, if you are a parent in Indiana, having a will is a task you should not put on the back-burner. If you have questions about how to effectively set up a will, trust, or any other estate planning document, Christopher L. Arrington is a Putnam County will and trust attorney who can help.
Why is a Will Important?
No one will live forever, so it is important that when you pass on, your estate is distributed the way that you want. If you have children that you intend to inherit the wealth you accumulated during your lifetime, taking the time to set up a legal document with instructions of what your children will receive can make the process a lot easier for them when it comes time to review your assets. It is not just wealth distribution that will be included in your will, but also the naming of a guardian should you die before your children are old enough to care for themselves. Additionally, if you have a child with disabilities, your will can provide you with the ability to legally keep them protected and cared for during their lifetime.
Not only can you name your preferred guardian for your children in your will, but you can also name an individual who will be responsible for following your will’s instructions for distributing your estate. This individual would be known as your estate’s executor. A lot of people think that when they die their surviving spouse or children will simply inherit everything they left behind, but this may not be the case. Without a will or other estate planning document in place, the way that your property and assets are divided may not be the way you would expect or want or even a way that provides maximum benefits for your family.
Speak to an Indiana Family Law Attorney
Proper estate planning documents are valuable tools that offer many benefits. They make the transition of your estate go much more smoothly. They can avoid issues such as your heirs squabbling over what you left behind. To learn more about strategic estate planning in Indiana or any other Indiana family law issue, call Christopher L. Arrington. You can schedule your free consultation with Christopher L. Arrington, an experienced and talented Danville family law attorney by calling (317) 745-4494.