WHY DO I NEED A WILL?
There are many reasons, including the following:
A Will allows you to decide how your estate will be distributed. Having a Will helps minimize any family fights about your estate that may arise.
A Will allows you to decide who should take care of your minor children. Absent a Will, the court will take it upon itself to choose among family members or a state-appointed guardian.
Contrary to common belief, all estates must go through the probate process, with or without a Will.
Having a Will, however, speeds up the probate process and informs the court how you would like your estate divided.
Executors make sure all your affairs are in order, so you will want to be sure to appoint someone who is honest, trustworthy and organized.
Most people do not realize they can disinherit individuals out of their Will. Absent a Will, your estate may end up in the hands of someone you did not intend.
The ability to make gifts.
To avoid the added stress on families during an already emotional time, it may be wise to have an attorney draw up your Will before it is too late.
DOES THE CHILD I AM ADOPTING INHERIT FROM ME?
Since the adoption process can take up to a year from placement to finalization, the child you are adopting is not your legal child until the finalization is granted. During that interim period, should you die, the child you are adopting will not inherit from you, unless you designate him or her as your heir in your Will.