Should I set up a will?

Creating a will is an essential step for anyone 21 and older, regardless of age or wealth. The notion that wills are only for the elderly or wealthy is a misconception. A will serves as a legal document that dictates who will inherit your assets and who will care for any minor children if you're no longer around. Without a will, your estate could be subject to the probate court, where a judge—essentially a stranger—decides how your assets are divided and who takes care of your children.

Dying without a will also means your personal and financial matters could become public, and the government might take a portion of your estate. This situation can lead to additional stress for your loved ones, who would have to navigate the legal system while grieving your loss. Having a will ensures you and your loved ones have what they need, simplify the process, and prevent conflicts. 

Documenting your wishes for medical treatment, pain management, and organ donation with an advance directive and medical power of attorney provides you with peace of mind. In addition, recording information on real estate, vehicles, valuables, online accounts, business ownership, investment and retirement accounts, bank accounts, credit cards, insurance documents, and credit cards will help keep your identity safe. 1 in 3 people get their identity stolen after they pass away. 

Fortunately, creating a will doesn’t have to be expensive or time-consuming. Taking just 2 hours today to create your comprehensive plan on Peacefully could spare your family up to 500 hours in the future and thousands of dollars—granting them the invaluable gift of peace of mind.

• Customized legal estate planning including a will, trust, and power of attorney
• Advance directives and medical power of attorney
• Secure planning vault
• Sharing documents with trusted contacts
• Phone, chat, and email support with estate planning experts

Taking the time to create a will now can save your loved ones significant hardship in the future, providing both you and them with peace of mind. If you already have a will, take 15 minutes to look it over to make sure it's up to date with your current preferences. Your life and relationships change over time and it's important that your will reflects those changes.