Three days ago, we talked about something many people put off for years: creating a will.
The response to that conversation got me thinking about the question I hear all the time:
“Do I really need a will?”
The simple answer is that if you have a family, a home, investments, retirement accounts, or even just personal belongings you care about, it is worth having a conversation about it.
Because the real question isn't whether you think you need a will.
It's what happens to your family if you don't have one.
Your Family May Not Know What You Wanted
Imagine something happens to you unexpectedly.
Your spouse is dealing with the emotional loss. Your children are trying to figure out what comes next. And on top of everything else, your family now has to figure out what happens to your money, property, and other assets.
Without clear instructions, your family may have to navigate a legal process governed by state law.
That's a lot to put on the people you love at the exact moment they're dealing with enough already.
A will gives you the opportunity to put your wishes in writing.
It's About More Than Your Money
When people hear "estate planning," they often think about investments and who gets their money.
But a will can address much more than that.
Depending on your circumstances, estate planning can help address:
- Who receives certain assets
- Who should handle your estate
- Who you want to make important decisions
- Guardianship considerations for minor children
- How personal property should be handled
- Your wishes for how your estate should be administered
And if you have children, this conversation becomes even more important.
What About a Trust?
This is where things can get confusing.
You may have heard that everyone needs a trust. Or maybe you've heard that trusts are only for wealthy people.
The truth is that estate planning is personal.
For some families, a trust may make sense. For others, a properly prepared will may be an important starting point.
The important thing is to understand your options instead of simply doing nothing.
And even when a trust is part of the plan, a will can still serve as an important backstop to help address assets that aren't otherwise covered by the trust.
Here's the Part Many People Don't Know
At Mundo Financial Services, we believe getting started shouldn't have to be complicated.
Eligible Mundo Financial Services clients can have access to a will created at no additional cost.
That's right — you don't have to wait until you're wealthy, retired, or facing a major life event to start the conversation.
If you don't have a will, this could be an easy opportunity to finally check one more important item off your financial-planning list.
You've Worked Too Hard to Leave Things Unclear
You've spent years building your financial life.
You've saved for retirement.
You've invested.
You've purchased a home.
You've built businesses and careers.
You've raised your family.
Don't let the one part of your financial plan that deals with what happens afterward be the part you keep putting off.
If you're a Mundo Financial Services client and you don't have a will, reach out to us. We'll explain how the program works and help you get started.
It could be one of the most important conversations you have about your financial plan — and it may not cost you anything to get started.
Protect what you've built. Protect the people you love. Have the conversation now, not when your family is forced to have it for you.
Important: Estate-planning needs vary based on individual circumstances and applicable state law. Mundo Financial Services does not provide legal advice. Clients should consult a qualified estate-planning attorney regarding their specific situation.