There is much to plan for in life — college, your wedding, your first child, retirement, life insurance — and with more than enough to keep you busy, it is easy to forget about your will. After all, no one wants to think about dying, but it is inevitable. Your will is one of the most important decisions you will make in your life. It is your opportunity to make sure that your wishes are fulfilled and that your assets are passed on to the people you choose. Without a will, a judge will determine who receives your assets and it could be very costly for your beneficiaries. A will provides the following benefits for you and your loved ones:
- Peace of mind – Clearly communicating your wishes will minimize any potential family disputes.
- Orderly passing of assets – You, rather than the courts, determine to whom your assets (money, real property, personal belongings) will pass. In addition to ensuring that your loved ones are protected, you can also establish any charitable donations, specific personal property bequests, or any other special wishes.
- The means to name a guardian for your minor children – Ensures that your minor children will be placed in the best possible situation with people you trust and are aligned with your values.
- Lowers costs for your beneficiaries – Allows for estates tax planning, lower probate costs and lower risk of money spent on possible legal disputes.
- Choice of executor – Allows you to specify a trusted and responsible person to manage and distribute your assets.
With numerous benefits to having a will, every person who has assets and loved ones should have one. In today’s hectic world, it is easy to put this task on the back burner, but I encourage you to take the time now to get it done. Tomorrow is never guaranteed, and a will minimizes the stress to your loved ones upon your death. You can create a will online at an affordable cost and it is one of the best gifts you can give them.
Mario Hernandez has been a Certified Financial Planner (CFP) for over 30 years and brings a vast amount of experience in the financial planning and investment management business. Through Longevity Wealth Management, Mario provides holistic planning services that help clients find solutions to live their best life. Mario’s email address is mario@longevitywealthmanagement.com. Securities offered through Osaic Wealth, Inc. member FINRA/SIPC. Investment advisory services offered through Longevity Wealth Management. Osaic Wealth, Inc. is separately owned and other entities and/or marketing names, products or services referenced here are independent of Oasic. Certain insurance products are offered by Mario Hernandez as a licensed agent independent of Osaic Wealth, Inc.. Mario Hernandez is not affiliated with Osaic Wealth, Inc. or registered as a broker-dealer or investment advisor.
