Why wills are important for everyone

On Behalf of | Nov 6, 2017 | Wills

Nevada residents of all levels of income may benefit from estate planning. While some people may think that they do not have enough assets or money to justify creating a will, they are mistaken. The courts will divide the assets of people who die without wills according to the state’s laws about succession regardless of the wishes of the deceased.

The belief that some people have about not needing wills is based on the idea that wills are for them. Instead, these documents are for the loved ones of the deceased. Wills instruct these individuals how to handle and disperse their assets.

Without wills, people who are left behind must prove their relationships to the decedents and ask to be appointed as executors by the probate courts. The courts will then determine how to divide the assets. In addition to wills, people should also have health care and durable powers of attorney in place in case they become incapacitated and are no longer able to make decisions for themselves.

Will planning is important for everyone regardless of the sizes of their estates. When there is a will in place, the distribution of assets after someone dies may be a much smoother process. Estate planning attorneys may help their clients create wills and other estate-planning documents. Lawyers may advise people about the types of documents they may need in order to provide their loved ones with the greatest benefits. Legal professionals also may help their clients preserve as much of their assets as possible for their loved ones while minimizing the potential court and tax fees that they might otherwise face. They can draft all of the documents so that their clients can feel confident that their loved ones will be protected after they die.