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Common Misconceptions About Wills

Wills Lawyer

While nobody likes to think about their mortality, it’s important to think about what may happen to your loved ones after you die. Setting up a will can ensure that your final wishes are carried out and that your family members are taken care of after you’re gone. However, as explained by our friends at Carpenter & Lewis PLLC, there are many misunderstandings about this estate planning document.

Here are a few misconceptions about wills that you shouldn’t believe.

My Family Can Just Sort It Out After I Die

This is one of the most harmful misconceptions about wills. Some people think that their family members can just decide who gets what after they die. The truth is that the state will determine who inherits your assets. If you don’t have a proper will, some of your family members may not get anything at all.

My Debts Will Be Erased When I Die

While this might be nice if it were true, it’s simply not. If you have outstanding debts after your death, your creditors can still make claims against your estate. These claims have to be paid before your heirs receive anything from your estate.

I’m Too Young for a Will

Unfortunately, many young people don’t think it’s necessary to set up a will yet. They may think they have a lot of time to create a will because they are young and healthy. However, life can be unpredictable. You never know if you will get into a serious accident or develop an illness. That’s why you’re never too young to create a will.

My Family Can Decide Who Will Take Care of My Children

One of the most important aspects of having a will is appointing a legal guardian for your minor children. If you don’t have a proper will in place, your family can’t just decide who will look after your kids. It will be up the court. They may appoint someone you don’t want to take care of your children.

Making a Will Is Too Complicated

If you try to set up a will on your own online, it can be quite complicated. That’s why it’s best to pay a little extra to hire an experienced attorney. He or she knows the ins and outs of wills and helps you set up that clearly states your wishes.

Once You Create a Will, That’s It

Unfortunately, some people establish a will and just forget about it. The truth is that it’s necessary for most people to update their wills multiple times throughout their lives. When you experience a big change in your life, like a divorce or birth of a child, you should review your will again. Otherwise, it might not reflect your current wishes.

Creating a Will Is Too Expensive

Some people shy away from creating a will because they think it’s too costly. However, it’s more affordable than you may think. Plus, it can provide you with peace of mind that your family will be taken care of after you’re gone.

Schedule a consultation with a Knoxville, TN wills lawyer today.