The subject of death and estate planning can be uncomfortable to discuss, but it is essential to understand how it can impact your loved ones. Whether you are starting your career or nearing retirement, creating a simple will is a necessary aspect of estate planning. Identifying your beneficiaries is one of the most crucial elements to ensure assets are properly distributed. Beneficiaries should be identified in a simple will and how it can benefit your loved ones.
Avoiding Family Arguments
Creating a simple will that identifies your beneficiaries can help avoid potential disputes among family members. This is especially true when it comes to blended families, where the distribution of assets can become complicated. By clarifying who will receive what assets, a person can reduce the likelihood of family disputes.
Ensuring Smooth Transitions
When a loved one passes, the last thing anyone wants is to deal with any extra headaches. A will that clearly identifies beneficiaries can help ensure a smooth transition of assets. By explicitly stating what someone will inherit, you can avoid all misunderstandings and uncertainty for your heirs.
Protecting Minor Children
If you have minor children, naming beneficiaries in a simple will can also protect them. If something happens to both parents, a will can define who will take responsibility for your children. This can avoid legal proceedings and ensure your children are not caught in the middle of family disputes.
Personalizing your Approach
A clear and defined will help ensure your wishes are executed the way you would like. By identifying your beneficiaries, you can guarantee that the people you want to receive your assets will get what you want them to have. This can give you peace of mind in your estate planning process.
Saving Time and Money
A simple will that identifies beneficiaries can also save time and money for your loved ones. If your will is vaguely worded, beneficiaries may have to go through probate court, which can be a long and expensive process. You can mitigate these costs by identifying who will receive what and that helps expedite the estate settling process.
Getting Help from Group Legal Plans
Many need help understanding the importance of simple wills or how to effectively draft one. A group legal plan usually offers simple will composition as a service. Countrywide Pre-Paid Legal Services has provided assistance to organizations of all sizes for years, and drafting a simple will is something we can do for group legal plan members.
We have a nationwide network of attorneys, and we have a lawyer in every community where there is a Countrywide client organization. Our legal professionals give pre-paid legal services such as writing simple wills and helping with consumer protection issues. A Countrywide group legal plan member gets priority treatment.
A Selection of Pre-Paid Legal Servies
We have plan options intended to help employees deal with common legal issues. Countrywide believes it is important to let clients design their benefits. Consequently, a Countrywide plan is created from client choice. We explain our pre-paid legal services options, and management selects those that will be in the new benefit. Countrywide provides the member services and the administration. We maintain a close relationship with all our clients and communicate with them regularly. If any problem surfaces, Countrywide moves quickly to resolve the issue.
There are many benefits to identifying your beneficiaries in a simple will. By doing so, an employee can avoid family disputes, ensure a smooth transition of assets, protect minor children, and save time and money. Everyone should take the time to plan their estate, including creating a simple will with identified beneficiaries. Countrywide Pre-Paid Legal Services is ready to help a group legal plan member write a clear and sensible simple will. If you wish to know more about what we can do, please contact us at your convenience.