Will Power is usually associated with dieting, and holding out on spending, etc., but Will Power is really about setting things up for your passing. Yeah, I know, depressing, huh? It’s really important though, especially if you have dependents. When you die, do you want the state to determine where your stuff and your kids go?
I doubt it. I sure don’t. Now, my kids are grown, married, and on their own, but I’m married and I have stuff. LOTS of stuff. When I die, I want things to be as simple, streamlined and painless for my wife and kids, so my will is in place. With that, I won’t have to worry about my dying in INTESTATE, which basically means that a court-appointed executor will compile any assets of mine, pay any liabilities that I might have, and then distribute my remaining assets to those parties that the executor deems as beneficiaries.
That would be a pain in the butt. Even more so if there are minor children, with no legal direction as to who will take care of them. If you have folks that are willing to take care of your minor children, because they have a great relationship with them, and you know they’ll raise your kids the way you would, you need to have that in a will. If not, and you die, then the state might make an immediate family member, or members, the guardian of your children, even if they are the LAST person/people that you would ever want raising your children.
Wills don’t have to be expensive. You can write your own will and there are internet resources to do so. Here are some that you can look into:
https://www.rocketlawyer.com/document/legal-will.rl
https://www.lawdepot.com/contracts/last-will-and-testament-usa/
http://www.legacywriter.com/wills2.asp
http://money.usnews.com/money/retirement/articles/2007/11/12/how-to-write-a-will-online
I’ve been lucky, in that both my parents had wills when they passed. My Dad passed before Mom and it sure made it easier on us (Mom, my Sister, and I) and it did for my Sister and I when Mom passed. I don’t remember about Dad, but my Step-Dad made sure that my sister and I had access to money when we knew that Mom was not going to come out of the hospital. This made it possible to pay for her funeral expenses and make some house, car and bill payments until Her will was probated.
So, what’s keeping you from having a will and setting things up for your loved ones, right now?