While no one likes to think of death, writing a will is one of the most important decisions you'll make. If don't have a will, it's up to the state and judge to determine how your assets will be split after your death. Unfortunately, the judge's ruling might not please the parties involved resulting in family disputes.

What is a Will?

A will is a legal document that stipulates the allocation of your property to specified people. Parents with young kids and pets can also define who will be responsible for child or pet care when they die. Your will is generally modifiable until death, so you can add or remove details as you wish to reflect your present state of mind. You can write your will or consult a probate attorney for help.

According to Merrill Lynch, only 18% of people 50 years and older have finished planning their estate. If you're still unsure about why preparing your will now is an excellent idea, read on.

Reasons to Get a Will

Reduce Conflict

Defining how you want your properties distributed upon your death reduces family conflict. If you have a particular property that you'd love to leave to a specific family member, outlining it in your will ensures that they get it. Your will can also help keep your property out of the hands of people you'd prefer not to have.

Faster Access

Your family won't have to wait around for too long to access your estate if you have a will. Without a will, the court process — intestate administration — can become time-consuming and complex. You can decide who manages your estate in your will so that the process of distributing your assets is much easier. Your probate attorney helps in the settlement of your estate and execution of your will.

Provide Care for Your Kids and Pets

In the unfortunate event that both parents die and leave young children behind, a will can help ensure their welfare. You can choose a guardian to provide your child's essentials such as food, clothing, housing, and healthcare. Without a will, the court chooses a guardian for your child and it might not be someone you want.

If you were thinking of leaving property to your pet, you will have to reconsider it because the court looks at them as property. However, you can leave your pets to someone you trust and leave funds to that person for pet care.

Support a Cause

You can still support your favorite cause or charity after you're gone. Your will can contain instructions to support your favorite charity to keep your legacy alive.

Consider consulting your probate attorney to help you draft your will and manage your estate.