last will and testament with pen on paper
  • Posted December 13, 2022

Why Having a Current Will is Essential

If you are still young and healthy, you probably don’t worry a lot about having a will. However, life can change at any moment, and unexpected deaths are always possible. To prepare for an unexpected death, you should have a current will no matter your age or health according to our certified financial planners in Hartford, CT.

Have a Say in Where Your Assets Go

Throughout your life, you acquire and work for many different assets. These assets are very valuable and should be treated as such even after your passing. With a written will, you can choose where your assets will go. Some of the assets you may include in your will are your home, your business, and guardianship over your children.

You are understandably invested in these types of things and people, only wanting the best of care for them during your life and after your death. In your will, you can name who you think will take care of these assets best instead of leaving it up to someone else’s choice. 

Make Inheritance Easier for Your Heirs

If you know now who you want to inherit your assets, you should write them into a will. This is especially true if you have many possible heirs. In the absence of a will, a court-appointed lawyer will be tasked with dividing the assets. This lawyer will not know your own family and loved ones as well as you do. Similarly, this lawyer will not know exactly what you would want. Having a lawyer divide assets after your death will probably be a messy, long process. Our certified financial planners can help create and make sure your estate and succession plan is ready.

Less Work Later On

Even if you don’t end up passing away for many years, it is still good to have a current will. Having a working document can save you a lot of time and effort later on in your life. As you age, dementia and other health issues can negatively affect your cognition and memory. As it becomes harder for you to think clearly and remember things, it can be harder for you to create a will that accurately reflects your desires.

There are no serious negative side effects of having a current will. Once you have written a will, you can easily make minor changes or updates to it as needed. Having a current will doesn’t mean that you have to constantly think about death; you can write a will and move on with your life, only using it if needed. 

Check out this article on How to Fill in the Gaps of Your Retirement Plan

Contact Tenpath Financial Group for certified financial planning services.