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1. DISTRIBUTE YOUR ASSETS
Executing a Last Will and Testament allows you to tell the world who
should receive your assets at your passing. If you die without a
Will, Washington law determines how your assets will be divided
among your family and who will be the
beneficiaries of your estate.
2. GUARDIAN You must
name the "guardian" of your child(ren) in your Last Will and
Testament. Telling your sister or your best friend that
they are the "God parent" of your child(ren) will not do the
trick.
3. PERSONAL ADMINISTRATOR
A Last Will and Testament allows you to select a
person to “administer” your estate upon your death. This person,
often a spouse or close family member (but always someone you trust)
will be responsible for paying your debts and taxes, and then
distributing all of your assets according to your will. This can
be a difficult task and you want to choose someone that will
take the job seriously and follow your directions.
4. FAMILY FEUDS
You may not think that it can happen in your
family but people are likely fight over your money and your property
when you die. The existence of a Will gives specific
directions and tells your friends and family how to distribute your estate. This
significantly decreases the chances of a family feud and is
proven time and time again to be the best way to avoid conflict.
5. PROVIDE FOR YOU LOVED ONES A
Last Will and Testament is your best opportunity
to make sure your spouse, children, close friends, church and/or
favorite charities are well provided for upon your death.
6. CONTROL YOUR PROPERTY With a
Will, you have the power to
control what happens to your assets after your passing. Do not
give up your right to do so.
7. FAMILY PETS You can even provide for your family pets in
your Last Will and Testament. You can choose a guardian
for your pet and/or set up a trust to provide for "Fido." Hey, it may sound
crazy – but it's more common than you may think.
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