No one likes to think about what happens when they’re gone. But it’s important to have a plan, and most Americans don’t have one. Case in point: Only about 32% of us have a will1.
One of the best ways to plan is with a will. And an online will template makes planning easy. With LawAssure™, WoodmenLife members2 can create customized wills with free, easy-to-use online templates3.
A will, more formally known as a “last will and testament,” is a legal document that explains what to do with your things after you pass away. Requirements are different in each state, but wills typically include:
A will makes sure people know your wishes after you’re gone. It also makes a big difference to your loved ones. They’ll already have a lot on their minds when you pass away, and a will can save them the unnecessary stress of figuring out what you would’ve wanted.
When you pass away, something needs to be done with the items you own, and any debts will have to be paid. A will appoints a person — an “executor” or “personal representative” — to handle tasks like those. They’ll also oversee how your property is given to people who have a right to inherit it. Also, if you have minor children and wish to appoint someone to take care of them, a will can make that desire known.
A will is how you tell the court who should be your personal representative and who should get your things. Courts will honor your wishes as much as possible.
If you don’t have a will, the state decides what happens. Things will be settled according to state law, even if what state law determines isn’t what you and your family want.
Wills are important for almost everyone. In particular, certain groups should take the time to plan and make a will:
WoodmenLife members have access to LawAssure and its online will templates. Go to WoodmenLife.org/LawAssure to learn more.
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