Estate Planning: Reasons to Have a Will

There are many reasons why you should consider having a properly drafted and executed Will. Primarily, your Will provides clarification for your friends and family of your wishes.

Within your Will, you will appoint an Executor who is tasked with the responsibility of carrying out the wishes you express in your will. Their role is to gather in all of your assets, pay any debts you may have and distribute your assets in accordance with your will.

Having the opportunity to select your Executor is just one reason to ensure that you have a valid will in place. Without an Executor, a friend or family member will need to apply for appointment as the Administrator of your estate.

If there are disputes about who the Administrator should be, it can be a more expensive and time consuming process. If you have appointed an Executor under your will, assuming they are willing and able to act, the process of having an Administrator appointed is generally avoided thereby saving both time and money.

Further, a Court will often require that your Administrator post a bond which can add to the expense of the process. Having a Will in place simplifies many of these concerns and provides an outlet for an individual to express their wishes and desires.

There are many other reasons for having a Will drafted. If you would like further information please contact Una Gabie at Pushor Mitchell LLP by email at gabie@pushormitchell.com or by phone at (250)869-1230.