It doesn't matter how old you are or if you are in good health or are afflicted with an illness—you might have thought you need to have a will made. You might also think that maybe it's not necessary to plan for your demise, as you don't have kids or any assets. Do you really need to make a will? It is important to have that legal document, especially in certain cases.
Property Assets
It doesn't matter if you have no children to leave your property to; if you don't have a will made up ahead of your death, then the government will step in and divide your property up to your heirs. Your heirs are any living relative, such as a sibling, parents, or even aunts or uncles—anyone who might be entitled to your property. If you have specific people in mind and you want any property you own to go to them, then you must make a will stating that fact. You also need to express just how much ownership they will have in each property or asset you own.
This is also important because if you want your spouse to inherit your home and you have children by a previous marriage, if you don't have a will stating you want the property to go to your spouse, your children will inherit it instead.
All Heirs Must Agree
If you don't have a will, then every relative that is eligible to inherit your assets must agree on what to do with each item they inherit. This means that if there is a house and you have several people who have inherited it, they all must agree if the property will be sold, rented out, or if one of the people who now own it will live there. They also must agree on how all assets are distributed among everyone involved. If everyone doesn't agree on something, the matter must head to court to be decided on by a judge.
This same issue is the same for any bills that must be paid on the property or any maintenance that needs to be done on buildings.
Specific Items
If you have items like a car or jewelry you wish certain people to have after you have passed on, then you must make a will stating so. If there is no will specifying who gets what property you leave behind, then the courts will simply either order the sale of the items and pass on the funds, or they will distribute each item in a fair monetary manner. If you would prefer one of your children to inherit more than the others, that must also be placed in the will, otherwise, all children will inherit an equal share of the property.
For additional advice, contact a probate attorney in your area.
