While there may be a multitude of individuals in Massachusetts and elsewhere who feel it necessary to plan for the future, some might not always get around to putting their plans in writing. Recent reports indicate that nearly 40% of Americans over the age of 45 do not currently have a will. Those who wish to explore the benefits provided by a similar estate planning option could find it helpful to understand to crucial topics to address when drafting a will.
One of the first topics to address includes identifying all assets that will be covered by a will. The terms of a will can dictate the distribution of a variety of possessions, potentially including assets such as automobiles and jewelry. Parents may also find it vital to address the topic of guardianship, as declaring a party to act as guardian to the kids in the event of an untimely death could prove vital.
Pet owners may also find it helpful to seek guidance on the potential benefits of choosing someone to act as a guardian for their extended family members. Another topic to consider addressing when drafting a will includes ones wishes and preferences pertaining to funeral arrangements. Choosing an executor to carry out one’s wishes may also be an essential aspect of drafting a will, but it can also be an intimidating process.
With a variety of topics to address, drafting a will may seem a stressful process. However, one may be able to overcome any previous reservations by consulting with someone with experience in such matters for guidance on all his or her available options. An attorney in Massachusetts can help a client make informed decisions and assist in forming an estate plan centered around his or her wishes and needs for the future.