10) Lawyers are too expensive.
9) I don’t know an attorney.
8) My estate is not very large.
7) I own everything jointly with my spouse.
6) I don’t have any close family members.
5) It takes too much time.
4) I have revocable living trust.
3) I already have a will that was written years ago.
2) I don’t mind paying extra taxes and fees.
1) I don’t care how my property is distributed after my lifetime.
There’s really no good excuse not to have a will.
A will can be the centerpiece of a thoughtful estate plan. Or it might be used in conjunction with other documents such as a living trust or beneficiary designations.
Having a will prepared by an experienced attorney is neither expensive nor time-consuming, especially when compared with the alternative of not having a will. If you don’t know an attorney, ask a friend or neighbor to recommend one.
Even if you have a living trust, you should also have a will in order to name an executor or to direct that assets held outside the trust be distributed in accordance with the trust terms. Once your will is drafted, you will need to review it annually—and have your attorney review it periodically or after any major tax law change—to make sure it still reflects your wishes. When you review your will, you should also review beneficiary designations for life insurance, retirement plans and financial accounts.
It’s a sad fact that many people die without a will. Then, the state decides who receives their assets and in what proportion. It may be a distant relative, a young person not ready to handle an inheritance or maybe even the state itself. There’s no provision for any of your estate to pass to friends or to charities you supported during your lifetime.
Given the choice, wouldn’t you rather direct who receives your estate you worked so hard to accumulate?
Contact Us
We can recommend trusted estate attorneys! Please contact Forrest Higgins our Foundation Executive Director at forrest@bgcec.org or by phone at 619-440-1600 x301.