Why a Will is Necessary and How to Begin Planning EP 6

Today, our essential question is: what is a will and why do you need one? To answer all our questions about this, we’ve invited Shawn McCammon from McCammon Law located in Boerne, Texas. He has over 20 years of legal experience with a focus on wills, trusts and estate planning. Shawn is the expert from that insightful lunch and learn we referenced in episode one. When it comes to legal issues, there’s a lot to consider so this is part one of a three-part series with Shawn. This podcast episode dives into the importance of having a will and estate plan, with a focus on wills. Here are the key points: What is a will? A legal document that outlines your wishes for your assets and dependents after your death. Specifies who will inherit your property, who will take care of your minor children (if any), and who will manage your estate as the executor. Helps avoid the default probate process, which can be time-consuming and expensive. Why do you need a will? Ensures your wishes are followed even if they deviate from the state's intestacy laws. Provides clarity and minimizes potential conflict among family members regarding your assets. Appoints a guardian for minor children, ensuring their care and well-being. Should be updated as your life circumstances change. Every state has a probate system in place and will determine how your estate is managed if you don’t have a will that clearly outlines your wishes. Common misconceptions about wills: Having a will won’t avoid probate entirely; it will streamline the process. Wills are state-specific, so consult with a lawyer familiar with your state's laws. Online will templates can be useful but may not capture the complexities of your specific situation. Tips for getting a will: Check with your employer for any discounted legal services or will benefits. Consider the complexity of your estate and your budget when choosing between a DIY will, online form, or lawyer-drafted will. Regularly review and update your will as your life circumstances change. Additional resources: McCammon Law Website Your state's bar association website for resources and lawyer referrals. Online legal aid organizations offering will templates and guidance. Varies by state/location. Join our Facebook Group for Updates Remember, this is not a substitute for professional legal advice. Always consult with a qualified attorney to discuss your specific circumstances and needs. Learn more about your ad choices. Visit megaphone.fm/adchoices