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Do I need a will?

On Behalf of | Aug 29, 2019 | Estate Planning |

When you leave this world, you leave behind all of your worldly possessions and all of the people you love. Nobody really knows what happens for you after you die, but it is clear what happens with your assets and the people you leave behind in Oregon. If you do not have a will in place, the state will handle disbursing your assets. If you have minor children, the state will also handle their care. This is probably not what you want, so you should consider creating a will.

Forbes explains that a will can allow you to provide for minor children and ensure that your assets go to whom you want. It can prevent issues with people fighting over your assets. It can also help to clear up any misunderstandings.

Of course, if you do not have minor children, then that is not a concern. You may be able to bypass a will and leave property in a trust or set up your property so it automatically transfers upon your death. Also, if you have a spouse, typically, everything will transfer to your spouse after your death. All of these situations mean you do not really need a will because everything is already handled.

Before you forego a will, though, you need to seriously look at your estate. The value of it specifically will affect whether you need a will. In addition, your family situation will play a role. If you have any concerns about someone contesting any aspect of your estate, then you need a will to spell things out clearly. This information is for education and is not legal advice.