Four Reasons to Make a Will

August is Make a Will Month, and while many people bristle at the thought of creating instructions for after they pass, there are many reasons why you should arrange plans for after your life, in advance. We get it; confronting the reality of our own mortality is uncomfortable and it can also feel scary. We’re here to dispel some of those fears and help everyone understand that, no matter your age or health status, creating a will has more benefits than drawbacks.

What is a will?

A will is a legal document that you create to establish how you want your property, finances, belongings, and other assets to be distributed after you pass away. These distributions are referred to as bequests. When you create a will, you become the testator of that will. As the testator, you appoint an executor to carry out the terms of the will and beneficiaries to whom you leave your bequests. After you pass, your will goes through a validation process in court called a probate, during which your assets are identified and your executor is approved to manage and distribute your assets according to the approved will.

There are many reasons why everyone should create a will, regardless of their age. Here are just a few to keep in mind during Make a Will Month and beyond.

1. Ensure that the people (and pets) you love are taken care of

When you pass away without a will, important personal decisions are left to local court and state law instead. This includes determining who will take care of any children or pets you have, who will receive the assets you leave behind, how much of those assets they will get, and how the distribution of those assets will be managed.

This can get complicated in many ways. The court may rule to leave it up to your family members to decide on their own, which can be contentious. Family members may be left with questions about your final wishes. With a will, your family does not have to wonder or worry.

When you create a will, you maintain the power of decision-making and reduce the possibility of the period after you pass being marred by messy back-and-forth among your loved ones. You get to set plans for your loved ones. You can make arrangements ahead of time with adults you trust and nominate them as legal guardians to your children and pets, ensuring your loved ones are in good hands after you’re gone. You get the power to choose who will manage your belongings, and to whom those belongings will go, without question.

You can also outline how specific amounts (or percentages) of your assets should be distributed to your beneficiaries after you pass. If you want your savings to be split among loved ones in specific ways, you can establish that through your will.

2. Make arrangements easier for your loved ones

Losing a loved one is difficult in and of itself. You must manage the grief of your loss and support others who are left behind, too. Making financial and legal arrangements on top of the emotional weight of such loss can be overwhelming.

When you create a will, you remove some or all of the responsibility that would otherwise go to those you leave behind. The person you assign as your executor will be responsible for closing your financial accounts, managing any existing debts, and communicating your wishes to your loved ones. You can choose to give that responsibility to a lawyer or accountant, or you can plan with a trusted family member or friend and ensure that the person you entrust with that role is prepared to take on the responsibility. You can leave instructions, detailed or otherwise, for your executor to make the process easier.

Your will can include your wishes for funeral arrangements, which can be very stressful and expensive for loved ones to handle immediately after a loss. With a will, you can make your last wishes clear and remove any doubt that may go into the process. You can also set aside money to go toward your funeral, so your loved ones don’t have to take the brunt of the cost.

3. Give yourself peace of mind, now and into the future

While we’ve gone over how creating a will can benefit the loved ones you leave behind — and your community — when you pass, it also provides an immediate benefit to you: peace of mind. Creating a will can clear a lot of the uncertainty and worry you may have around important life decisions and events.

Beyond the security you can gain from making a will, you also maintain your agency even after you pass. A will authenticates your greatest wishes today, from how you want to be laid to rest to how you want to be remembered far into the future.

4. Leave a lasting legacy for organizations you care about

During your lifetime, you are likely involved in causes that are near and dear to you. Whether you’re a volunteer at a local shelter, one the board of directors for a nonprofit, or a regular donor to causes you believe in, you can continue supporting the organizations you care about after your lifetime.

When you create your will, you can leave a part of your estate to charitable causes, and the Sacramento Region Community Foundation can serve as your trusted partner to carry out your philanthropic wishes. Whether you’ve always given to your favorite causes or you’ve always wanted to, supporting their work after your lifetime is as easy as filling out a simple form to establish your no-cost, personalized Legacy Fund with the Sacramento Region Community Foundation.

Establishing a Legacy Fund is quick, easy, and free. We work with you to determine the best giving strategy for you now; then, when your fund activates after your lifetime, the Sacramento Region Community Foundation will fulfill your philanthropic directives — whether you wish to support certain causes forever through an endowment, or help students pursuing their educational dreams by establishing a scholarship. Learn more about establishing a Legacy Fund with the Foundation here.

What now?

Regardless of your age, your health, or your wealth, making a will is a great place to start. It can benefit you, the people and pets you love, and the causes you support. Online tools make starting your estate planning simple, and we work with many local estate planning attorneys who are also excellent resources. In the meantime, use the tool below to take the first steps to establish your personalized, no-cost Legacy Fund at the Sacramento Region Community Foundation today! If you know that you have organizations you would like to leave parts of your estate to after you pass, contact us to establish your Legacy Fund any time.