Do you have a will? Have you considered having one? Here are some reasons why it is important to have a will. A will dictates where an individual’s assets (i.e. a home, a business, or even money) will go after they pass away. Without providing this information on a valid will, these investments go to the intestate succession to decide where they go. Also, if an individual has minor children, the only way for an individual to choose their legal guardian is through a will, or else intestate succession decides that one too. Alright, so a will gives an individual: 1) control over who inherits their assets; 2) control over how many people get to inherit their assets; 3) control over what gets inherited; 4) the power to prevent the sale of an individual’s estate assets; 5) the opportunity, if one is needed, to nominate a legal guardian for their children. Alright, now to recap: wills are good for providing a better future for an individual’s family and their investments. If no valid will is available, all assets of an individual are dictated by the intestate succession laws as well as who the minor children’s guardian will be. Now, after a will has been written and validated, it is important that it is updated anytime an individual’s family or assets change. For instance, if an individual gets married/divorced, or if an individual and their spouse have a baby, or their business grows into a chain business. It’s also important that a will is written thoroughly and specifically to avoid any issues with the intestate succession laws. I hope everyone’s week is going by well. Sometime soon, we will post a newsletter. Tax season is coming to halt very soon, if you have any questions regarding your taxes feel free to contact Delerme CPA. It’s not too late, but now is the time to address it if it has not yet been addressed. Have a happy Friday.