Writing a Will is one of the most important steps in saving the family from numerous hassles afterwards. A written Will legally protects the spouse, children and the assets. It tells how would you like the things managed one you are no more. While the life circumstances of every person vary, here are the top reasons to have a Last Will and Testament Missouri.
Clarity in Estate Distribution
A Will is a legally-binding document which lets you decide how the estate will be managed after the death. If a person dies without Living Will, there is no guarantee that the intended desires will be carried out. Having a Will helps to minimize the family rights about the estate that may arise. It also answers various questions and clarifies doubts if any.
Decide Who Will Take Care of Minor Kids
A Will allows you to make an informed decision about who is going to take care of minor children. In the absence of a Will, the court will decide on the family members or a state-appointed guardian.
Shorten the Probate Process
All estates must go through the probate process whether a Last Will is there or not. If there is a Last Will written, it will speed up the probate process and informs the court about the division of the state. The probate court will serve the purpose of handling the estate, and when someone dies without a Will, the court decides how the estate is going to be divided without the input. It causes long and unnecessary delays.
Lower the Taxes
Another reason to have a Will is a possible reduction in the amount of estate taxes paid. The value of what you give away to the family members of the charity, reduces the value of the estate. At the time of paying the taxes, it lowers the amount that has to be paid as well.
The Decision On Winding Up the Affairs of Estate
Executors ensure that all issues about the estate are well-managed. It includes paying off the bills, cancellation of credit cards, sending information to the banks and other establishments. Executors have a significant role to play in the handling of the estate. You want to be sure to appoint someone honest, trustworthy and organized as well.
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