Life is very unpredictable. No one knows when their time will come, which is why, by now, you need to have a will to safeguard your interest and those of your loved ones in Louisiana. Here are five reasons why this is important.
1. To save some time, money, and stress for your loved ones
Almost all estates in Louisiana go through the probate process (except the ones in a trust) for the court to oversee debt payment and asset distribution. If you have a valid will, this process will go much faster you’ll streamline the probate process. However, if you die without one, things will get more complicated for your loved ones. This is because the court must find a suitable administrator that will distribute your assets not based on your wishes but according to the state laws. Additionally, this person may not know your heirs or creditors, so it might take longer to locate them.
2. You can choose who will raise your children
A will allows you to choose a person you trust to take care of your children (i.e., if they are still young). Without a will, the court will decide who gets custody of your children – and this may not be someone you’d comfortably leave with your kids.
3. You can help avoid family feuds
If you don’t have a will, family feuds will likely erupt over your belongings after you’re gone. This is especially true if you have a lot of valuable possessions. By estate planning using a will, you can avoid this drama and make things much easier for your loved ones.
4. To support your favorite causes
If you want to leave a positive impact on the world after you’re gone, a will is a perfect way to do so. You can give instructions on ways to distribute some of your assets to support your favorite causes and charities in Louisiana.
5. It’s the simplest estate document to create
All it takes to have a will is a set of instructions, two or more witnesses, a date, and your signature. Even handwritten wills are accepted in Louisiana.
Make life easier for your loved ones by creating a will. But, this isn’t the only document you can use; some people also prefer trusts because they evade the probate process.