No one wants to talk about it or think about it, but let’s face it, we all need a will. Wills are important in deciding who will take care of your beloved hamster Skeeter and who will get your prized Pez dispenser collection. More seriously wills are important in deciding who will be appointed a guardian of your children and who will be the executor of your estate.
Most people only need a basic will. A basic will enables you to decide which people and/or organizations that you wish to leave property, appoint a guardian for your children, and name your executor. If you are in good health, under 50, and do not think you will owe estate tax when you die a basic will is probably enough.
So what goes into a will? Property that you want passed to your family, friends, or charities. Do you want to leave your Grandmother’s wedding ring to your oldest daughter while your youngest will get Grandma’s earrings? Is there a book collection that you wanted donated to your favorite charity? Who will take care of your children? This is especially important for single parents who are widowed or the other parent is alive but not in a position to take care of your children. These are just some of the important issues covered in a will.
Have you thought about what will happen to your digital assets? As technologically savvy as people are these days most are not thinking about creating a digital will. So what exactly is a digital will, what do you want to happen to your Facebook and Twitter accounts? What about your Netflix account or your domain names? How about all those email accounts you have? A digital will can help you pass on digital assets as well as provide for how you want certain assets or accounts disposed of or shut down.
Instead of putting it off take the time, get it done, and have the peace of mind in knowing that your affairs are in order.