In this blog post, we will explore why having a will is crucial, even if you don't own real property.
What Constitutes Property?
First, let's clarify what we mean by "property." While most people think of real property like homes and land, the term encompasses much more. Property includes bank accounts, personal possessions, digital assets, and any other belongings you may have.
Why You Still Need a Will
Even without real property, having a will is crucial for several reasons:
Distribution of Assets: A will directs the court in determining who receives your assets, including bank accounts and personal items, after your death.
Nomination of Executor: Your will allows you to appoint someone to manage your estate. This executor will distribute your assets according to your wishes.
Benefits of Having a Will
A will ensures your assets are distributed according to your wishes, preventing disputes among heirs and minimizing confusion during an already difficult time for your loved ones.
Getting a Will: Next Steps
If you want to create or discuss a will, estate planning, or probate, contact our office. We offer complimentary phone consultations to help you get started.
Comments