Having a last will in place at the time of your death is a smart choice, but as with everything, there are advantages and disadvantages to consider when drafting one. Some of these pros and cons are discussed below.
Advantages of a Last Will
• You can leave property to those you choose.
One of the greatest advantages to having a will is that you can choose who will receive what from your estate. Without a will, your estate is subject state laws of “intestacy.” That means the people you would like to benefit may receive little or nothing, while others with whom you’re not as close receive the bulk. Accordingly, if you are not married but have a long-term partner, he or she could receive nothing under such laws. Alternately, if you are in the process of a divorce but it has not been finalized, without a will, your…
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