The #1 Biggest Mistake People Make On Their Will

Just the thought of starting a will is enough to scare some people away. And what if you don’t do it right? It’s easy to make a mistake on any legal document, including a will. But that shouldn’t stop you. But, it is one reason that people procrastinate when deciding to write a will. In fact, Procrastination is the #1 biggest mistake people make on their will.

Why People Procrastinate About Making A Will

There are many reasons why people don’t get around to writing their will. We have heard clients say:

• They think we have plenty of time. I mean, we don’t need a will until we are older
• Maybe they don’t have enough assets. People may think a will is  only for those with lots of items to distribute
• Never get around to it. These people know they should have one and want one, but they don’t stop and set up a will
• They may not want to face their own mortality. But not facing it doesn’t make it go away
• Often, people don’t want to pay an attorney. But this is one expense that should be important and budgeted for.

Another top comment we hear is that people are simply too busy. It’s understandable; none of us seem to have enough time lately. But let’s look at what will happen if you don’t have a will.

The other procrastination is updating a will. It’s suggested to update your will every 3-5 years or after any life change. These can include marriage, divorce, the birth of a child or the death of a beneficiary.

Consequences Of Not Having A Will

Dying without a will, or dying intestate, can cause some serious headaches for your loved ones. If you’re married, it’s expected that your assets will transfer to your spouse. But what happens if you’re not married or you both pass away? This can be especially troubling if you have minor children. Your will is where you name your guardianship for your kids, and without one, the state will decide who will raise your children after you’re gone.

Without a will, the probate courts can take up to 12 months to distribute your belongings. This is unnecessary time and money that your loved ones will lose.

How To Stop Procrastinating And Get Started

We know writing a will can be daunting. The easiest way to get started is to start small. You don’t have to do everything all at once. Perhaps the best way to start is to make a list of all your assets. The estate attorney will ask for this anyways. The next step is to call an estate planning attorney and make an appointment. This way, you set a date for when this list will be made.

Having an experienced estate planning attorney on your side can take out much of the fear and guesswork of writing a will.

Oak Brook Estate Planning Attorney

An Illinois estate planning lawyer can help you write your will and protect your assets. To talk to a qualified attorney in the Chicago area, contact the Estate & Probate Legal Group at 630-864-5835. 

Areas We Serve: Cook, DuPage, Kane, Lake and Will counties.