Reasons Why Executing Your Will Should Be A Top Priority

1.            On August 25, 1995, my father, Frank McGahren, died unexpectedly at the early age of 51 leaving our entire family grief stricken.  While Dad was an extremely intelligent individual (a professional engineer) who often spoke about getting his Will completed, he, like so many others, never executed one. 

   Had he known that his failure to execute a Will would ultimately result in my mother having to undergo additional stress in having to keep his estate open for nearly ten years, I am certain that Dad would have made getting a Will his top priority.
    
   Sadly, at the time of his death, even though I had been practicing law for a little over two years, I myself did not truly appreciate the importance of having a Will in place. It was only after having to personally experience probating the estate of a parent who died without a Will, that I have come to fully understand the reasons why someone should make executing a Will a top priority. These reasons are as follows:

   1. If you don’t decide how you want your estate to be distributed upon your death, the State of Georgia will decide for you.
   2. Having a Will is less expensive as you can avoid bonding fees, taxes, and do away with tasks (such as the filing of inventory) that probate court might require.
   3. Having a Will allows you to choose who will distribute you estate.
   4. Having a Will allows you to decide who will be the guardian of your minor children.
   5. A Will ensures that you have some say as to how and when your estate will be distributed to your children.
   6. If you have no Will and your spouse dies after you, there is the possibility that his or her family may be entitled to everything while your family will be entitled to absolutely nothing.
   7. If you have no Will, your grandchildren or stepchildren will likely receive nothing under what is known as intestate law.
   8. Heirs could lose government benefits if they receive an inheritance from you.
   9. If you have no Will, it is possible that more money than you intended will go to your children instead of your spouse.
   10. Dying without a Will results in a much longer settlement process and may even cause litigation among family members.

    

   Now this is not to say that many of us are unaware of the general overall importance of having a Will.  My Dad certainly knew that he needed to get it done. Perhaps the real problem is that we naturally do not want to dwell on our inevitable departure or think about what needs to happen after we perish. Or maybe many of us are simply too busy to get around to it. The bottom line is that we each need to make certain that we have a Will in place at the time of our death. This way the transition will make it easier for our loved ones left behind.

   Matthew McGahren is a trial attorney who earned his law degree from the University of North Carolina at Chapel Hill in 1992.  He is licensed in Georgia, North Carolina and Florida and is a member of the law firm of McGahren, Gaskill & York, LLC that has offices in both Peachtree Corners and Duluth.  McGahren, Gaskill & York offers legal services in a variety of areas including, but not limited to, civil & commercial litigation, commercial and residential real estate; business transactions, wills & trusts, employment law; wrongful death & catastrophic injury; and family law.