It can be hard for anyone to think about the end of life when they are still young. After all, we all felt invincible at 25, did we not? The truth is, though, it is never too early for Iowans to start putting their final wishes in writing.
You may wonder why that is, but Charles Schwab & Co. has laid out some very good reasons, not the least of which is to "make things easier for the people you love." More specifically, writing down your desires leaves your family and friends with the confidence to know they know exactly who gets what. Not having to guess about those decisions can go a long way toward keeping your family members' relationships intact.
If you have minor children, a will can ensure that the people you want to take care of them will, in fact, be the folks who do. Without designating that in writing, the courts will likely have to decide on your behalf, and no one wants someone else making those choices about their most precious possession.
Charles Schwab & Co. spells out some specific questions you should include answers to when you put your wishes in writing:
- Who do you want to be the executor of your estate?
- Which assets do you want to distribute to specific people? And, to whom?
- Who do you want to take care of your minor children?
- What are the specifics surrounding your children's care: school, sports, other?
One of the first steps involved in planning your estate is making a list of your assets. Why not start today?
This information is only educational in intent and does not aim to provide legal advice.