On September 30, 2014

If you don’t have a will, the idea of making one may seem unnecessary because, for instance, you are still relatively young or your estate is not that large. Regardless of why you may tell yourself that you don’t need to create a will or you don’t need to do it right now, the fact of the matter is that you can never tell what tomorrow may bring and taking a little bit of time now to get your estate in order can end up being profoundly helpful for your loved ones in the future.

In this blog series, we will discuss some of the top reasons that you should create a will now if you don’t already have one in place. When you are ready to move forward and create a will – or if you already have a will and need help revising it, don’t hesitate to contact the Denver wills lawyers at JR Phillips & Associates, PC. We have the experience and legal knowledge necessary to help you develop a will and deal with all of your estate planning needs.

Here’s Why You Should Create a Will…

If you don’t have a will in place, here are some of the top reasons to create a will. Call us for help devising a will to ensure your loved ones are protected in the future.

If you don’t have a will in place, here are some of the top reasons to create a will. Call us for help devising a will to ensure your loved ones are protected in the future.

Reason 1 – You can choose your executor.

When you create a will, one of the first things you will do will be to choose someone you trust to be the executor of your will. Your executor will be the person who will eventually have the responsibility and authority to deal with all issues associated with your estate, including the payment of taxes and the distribution of your assets. While you can choose your spouse, a child or an attorney as the executor of your will, anyone whom you trust to carry out your final wishes will usually be a decent choice.

When you don’t have a will in place, the court will end up selecting an executor for your estate, and this person may not be the individual whom you’d prefer to oversee your estate and/or who can be trusted to carry out your final wishes.

Reason 2 – You can minimize the possible estate taxes that will need to be paid after you pass away.

When you create a will, you will have various options for planning for your loved ones, and some of the decisions you make could end up saving your estate – and your loved ones – hundreds (if not thousands) of dollars in future costs like estate taxes. For instance, if you end up developing certain kinds of trusts or making certain donations to charity, it may be possible to save your beneficiaries a considerable amount of money in estate taxes.

What this can end up meaning is that the various assets of the estate end up being preserved for your loved ones – instead of ending up in the hands of tax authorities or others.

We will continue our discussion of some of the most important reasons to create a will in a few upcoming parts of this blog – we encourage you to check them out!

Denver Estate Planning Attorneys at JR Phillips & Associates, PC

Are you ready to create a will or do you need help revising a will you may already have in place? If so, you can turn to the estate planning and wills lawyers at JR Phillips & Associates, PC.

Schedule an initial consultation with us by calling (303) 741-2400 or by emailing us using the contact form at the top of this page.

From our offices in Denver, we serve clients throughout the southwest and southeast Metro Area, including (but not limited to) people in Highlands Ranch, Littleton, Castle Rock, Parker, Aurora, Greenwood Village and Englewood.

Categories: Estate Planning