On average, only six out of every ten adults has a will in place. Older adults are more likely to have estate planning documents completed. Here are some reasons that more people should take the time to do their estate planning.

Control Over Distribution of Assets

You may want to be able to control how your assets are distributed after you’re gone. Having a will be allow you to determine where everything will go. You may even decide to donate some to charity. Without a will, a court may decide how to divide your assets. This also offers you the chance to leave someone who wouldn’t have inherited something. A will is a binding legal contract. As long as you’re of sound mind, a court will decide in favor of your wishes.

Security of Your Children

You may have young children that need to be taken into consideration. Without a will, your children may end up in a home that you don’t want. Having a guardian that is designated ensures that your children will be raised by someone of your choosing. There may not be anyone in your family that is responsible enough for your children. A will allows you to select someone that is outside of your immediate family. If you don’t have any immediate family, your children may end up in foster care.

Peace of Mind

A will allows you to be able to have control over what happens after you’re gone. This can bring you some peace of mind. You know that everything will be done as you would have wished. Most younger people don’t like to think about these things. Everyone would like to believe that they will live forever. Unfortunately, this isn’t the case. Being prepared doesn’t mean that you want to die. It’s just the prudent thing to do for the worst case scenario.

Less Legal Issues

A will can make your passing more amicable. There will be less drawn out legal battles regarding your decision. Most wills ensure that there won’t be any legal battles at all. This can save your descendants a great deal of their inheritance. There are also less estate taxes involved with a will. It reduces the total value of your estate, and makes it more manageable for those that inherit. Estates that don’t have a will can lead to long probate processes. It may take years to resolve all of the issues.

Wills aren’t just for those that are getting older. You want to be able to protect your family in the event that something happens to you. Visit a lawyer, like those at Sorensen & Brown, to start the estate planning process.