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Posted on 01-13-2012
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Where there’s a Will, there’s security

by Justin Weinrich | trad. Víctor Flores

A Last Will and Testament is perhaps the most powerful document that a person will ever write. The law allows each American — who understands the nature and extent of his or her property and the people who should get that property at the end of his or her life—to choose where the property goes upon death.

The necessity for your own Will is very simple: If you don’t have one, the State of Illinois dictates what happens to your property and money once you die. Even if you told friends or family members what you want them to have when you pass away, the law gives no weight to your words, and your wishes won’t be honored—unless they happen to be in line with the mandates of Illinois law.

It’s been estimated that about 70 percent of people die without a Will. This number is far too high, because the process of creating a Will is an incredibly easy one. The advantages of a Will are obvious: Most importantly, you get to choose where your property goes, including to those people – such as a helpful next-door neighbor or longtime co-worker – who might not be related to you by blood.

A Will also permits you to disinherit, or keep property away from, relatives who should not share in your bounty, either for personal reasons or because they simply do not need the resources. Perhaps you are active in your church or with a worthy nonprofit group, and would like to make a provision for that upon your death. A Will allows you to do this.

Not only does a Will allow you to choose who gets your property, but it permits you to dictate how much each person gets. ...

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