DES MOINES, Iowa--()--There are many sound financial reasons to create a Will. If you’re like most people, however, you’ll know you’re ready to act when you find yourself in one of the following situations:
“don’t count yourself out if you don’t fit that mold. It may even be more important to plan ahead if you’re single, divorced, or live with someone without being legally married.”
1. You Don’t Want to Leave Anything to the IRS.
If you’re raising children, bought a house, have life insurance, or funded your retirement, you’re likely ready to create your Will. “Doing so helps ensure those assets are distributed appropriately and avoids the expense of probate court,” says Ann Cosimano, General Counsel at ARAG®, a global legal services provider. “While those are key triggers for creating a Will,” says Cosimano, “don’t count yourself out if you don’t fit that mold. It may even be more important to plan ahead if you’re single, divorced, or live with someone without being legally married.”
Without a Will, the state, in most situations, decides who will receive your estate. “Your family may spend a lot in court costs and taxes that could have been avoided with a few relatively simple estate planning documents,” says Cosimano.
2. You Want to Prevent Family Battles.
Everyone knows a few horror stories about how the lovely wake for dear Aunt Betty turned into a bloody brawl over who was going to get her teacup collection. Whether you need to play referee, or merely simplify what will be difficult decisions for your family, your Will can help eliminate the struggle for others trying to figure out what you would want.
3. You’re Ready to Get On With Living.
“Most people think they’re too young to write a Will,” says Cosimano, “but parents with school-aged children may need a Will most of all. While the likelihood seems lower, the stakes are higher. Parents with young children need to consider trusts, guardianship, and other plans. And, more often than not, they find the relief of managing those details is worth it.”
Need More Motivation?
Looking for more reasons to get started? Visit HaveFunWhenI’mGone.com and check out photos and videos of the stuff people enjoy, who they want to leave it to and why. If you want to share your own photo or video, you could have a chance to win a $500 Visa® Prepaid Gift Card.* The site, sponsored by ARAG, is an ongoing discussion about the things people are eager to pass on.
Another easy way to get started is to enroll in a legal plan that offers affordable options for creating estate planning documents. Legal plans are usually offered through employers or organizations, although some options are also available to individuals. To find out more about how legal plans work, visit www.ARAGgroup.com.
*Subject to full Official Rules available at http://www.havefunwhenimgone.com/?page_id=157.
ARAG (www.ARAGgroup.com), whose North American operations are based in Des Moines, IA, is a global provider of legal solutions. The company has an international premium base of almost $2 billion and it protects 15.5 million individuals and their families – worldwide. ARAG offers comprehensive legal plans that provide a smart and trusted path for resolving legal issues. This enables people to protect their families, finances and futures.