Mt. Juliet and Lebanon TN
You’ve worked hard throughout your life, building assets and taking care of your family. Have you also prepared for the inevitable, and had a will made? If you don’t have an existing last will and testament, the burden of determining what happens to your estate and assets falls to the government. This means the laws of your state will dictate what happens to your money and belongings, usually splitting them between your spouse, children, and other next of kin. Don’t let the future of your loved ones be dictated by the government. Let the Law Office of Yancy Belcher make sure your affairs are handled.
Here are five reasons why you should protect your family and your assets by drawing up a last will and testament:
- Child custody: As a parent, you want to be there for your children, but if something happens to you and you do not have a will, the state of Tennessee will determine who will raise your children following your death. By drawing up a last will and testament, however, you can designate a guardian for your children, making sure that the person you have chosen will be someone you trust who will care for your kids the same way you loved and looked after them.
- Protecting your business: Small businesses employ nearly 43 percent of the private workforce in Tennessee, according to data compiled in 2015 by the U.S. Small Business Administration. Without a last will and testament, the state will determine what happens to the business you worked so hard to build. Instead, by getting your affairs in order, you can pass the ownership to your co-owners or heirs. Estate planning is crucial for small business owners; nationwide, a staggering 70 percent of family-owned businesses do not survive past the initial generation of ownership, according to a 2012 study by the Harvard Business School.
- To distribute your assets the way you want: A properly written last will and testament in Tennessee serves to dictate the disposal of more than just what’s in your bank account. Maybe you have a beloved vehicle, a prized collection, or a family heirloom. You want to be able to decide who receives these belongings, rather than leave their distribution to be determined by the standing state laws in Tennessee. These regulations won’t take into account any close friends or mentors who you want to make sure are remembered with one final gesture after you’re gone.
- Charity: We all have causes that are important to us. Many people with a will opt to earmark funds and assets to go to a charity of their choice. This also makes sure that your assets will be used for a good cause that helps others.
- Limiting stress on your loved ones: Losing someone you care about is a traumatic experience. Without a will, your loved ones will have to face the prospect of possibly haggling with attorneys and family members, while also trying to process their loss and grief from your death. Eliminate the red tape by having a last will and testament drawn up today.
Estate Planning in Nashville and Murfreesboro
For two decades, Yancy Belcher has been drawing up wills and helping his clients throughout middle Tennessee with estate planning. Don’t let state law dictate what happens to your assets. In addition to wills, he also can help set up a trust, gift planning, and much more. Remember, a properly drafted will supersedes the laws of discussion and makes sure that your final wishes are honored. If you don’t have a last will and testament, get one by contacting our office at (615) 773-2889 to schedule your initial consultation today.