Peace of mind: why having a will matters
WELLINGTON COUNTY – A properly prepared will can provide peace of mind for those left behind after death, and at the very least, spare loved ones from unnecessary stress during an already difficult time.
Without a will naming a designated estate trustee, also known as an executor, decisions are delegated to a court-appointed estate administrator or the next of kin.
A professional can prepare a will providing direction on what to include, and ensure the will is properly witnessed.
Individuals can write out a homemade will, Mary-Lou Fletcher has told the Advertiser, but it needs to be properly witnessed, signed and dated.
“It has to be properly witnessed by two separate witnesses that are not beneficiaries or spouses of the beneficiary,” Fletcher, a partner at Woods, Clemens, Fletcher and Cronin, said previously.
A proper will, according to Fletcher, names an estate trustee who handles the administration side of things, beneficiaries who will receive money and assets, and finally a guardian of any young children.
Wills are necessary even with powers of attorney, which are separate legal documents taking effect if a person is alive but incapable of managing their affairs.
When you die, the powers of attorney ceases to exist, according to Fletcher.
When it comes to naming an estate trustee in a will or a trusted person in a power of attorney, Fletcher believes family is best.
“Friends come and go but family is forever. It’s a good idea to appoint a close family member who is good with administrative skills,” she said. “It has to be someone who is at least 18, so adult children are typically named. If you are younger, it would usually be a sibling or a parent.”
Death is difficult at the best of times, Fletcher has said.
“Without a will it becomes even more stressful for family and loved ones.”
A will ensures assets are distributed in a way aligning with a person’s wishes and values, and can prevent family conflicts, minimize estate taxes, and provide comfort to those left behind.
