FIVE REASONS WHY EVERYONE SHOULD HAVE A WILL
Almost everyone understands what a will does: it leaves instructions for how to distribute your property at death. But there are many other reasons to have a will. Here are five of them:
1. You can choose your heirs. If you don’t have a will, then the State of Illinois has a plan for how to distribute your assets. You may not agree with their plan, however, so it is essential that you leave clear instructions. A will provides the instructions for how you want your property to be distributed.
2. You can choose a guardian for your children. If something happens to you and your spouse in a common accident and you have minor children, you can specify in your will who you would like to have guardianship of your children.
3. You can establish a trust. If you pass away before your children are of age to be responsible with money, a trust is a great way to provide for their future. You can direct how you want the trust assets to be used for the benefit of your loved ones, and how long you want the assets to be held in trust.
4. You can leave instructions for how to take care of your pets. Although it might sound strange to some, you can leave instructions for how you want your pets to be taken care of after your death, including leaving money for their care and designating a caretaker.
5. Minimize the cost and delay of the probate process. You can leave instructions in your will authorizing your executor to act without bond or court supervision.
Wills are available free of charge for Local 50 members and their spouses. Please call the Bach law office at 673-0100 to set up an appointment.
Please let me know if you have any questions.
Robert W. Bach
Attorney at Law
110 S.W. Jefferson
Peoria, IL 61602
Telephone: (309) 673-0100
Facsimile: (309) 674-2644